Envista Holdings (NVST) is being added to the S&P MidCap 400 index on Monday, April 12. A global family of more than 30 dental brands, Envista partners with professionals to deliver industry-leading products, solutions, and technology.
Let's check out the charts and indicators to see if NVST is worth adding to your portfolio.
In the daily bar chart of NVST, below, we can see a nice-looking uptrend from the April-May lows. Prices are trading above the rising 50-day moving average line, which has acted as chart support a number of times since July. The slope of the 200-day moving average line is also positive. A bullish golden cross of these two averages can be seen in late September.
The volume histogram does not actually show increasing volume with prices going up but the On-Balance-Volume (OBV) line shows a nice and steady rise into February. A rising OBV line is a sign that buyers of NVST have been more aggressive with heavier trading volume happening on days when the stock closes higher.
The 12-day price momentum study in the bottom panel shows lower highs from February to March even though prices made higher highs. This is a bearish divergence and suggests that the pace of the advance is slowing. This can at times foreshadow a shift in prices from up to side or from up to slightly lower.