Edwards Lifesciences (EW) is scheduled to report their latest quarterly numbers to shareholders and analysts after the market close on Thursday. The company is known for its patient-focused medical innovations for structural heart disease, as well as critical care and surgical monitoring.
The stock chart has improved the past three months so let's check out the patterns and signals.
In the daily bar chart of EW, below, we can see that the shares made a low in May and then a lower low in June. From this June nadir prices rallied into early July and made a quick pullback or retest. A small inverse head-and-shoulders pattern is visible now. Prices are now trading above the rising 50-day moving average line. The slope of the 200-day line is still negative and it intersects around $110/share.
The On-Balance-Volume (OBV) line declined from early 2022 but shows improvement from the middle of June as traders have been shifting from aggressive selling to aggressive buying. The Moving Average Convergence Divergence (MACD) oscillator is in a bullish alignment above the zero line.