Email of the day on BMW and Novartis
Comment of the Day

December 02 2014

Commentary by Eoin Treacy

Email of the day on BMW and Novartis

Would you kindly add BAMXF to the chart library? Much appreciated. Also, following TCS, I have been on a quest to identify promising looking charts. I'd be interested in you view on the weekly chart of NVS. Thank you

Eoin Treacy's view

Thank you for this suggestion and we have added the US listing of BMW to the Chart Library. Both BMW and Novartis are global Autonomies not least because of their truly global footprints, dominant positions within their respective niches and strong balance sheets. 

BMW’s US listing continues to rebound from its October lows and a sustained move below them would be required to question medium-term upside potential. 

I pointed out Novartis’ breakout from a 14-year base in the summer but currency movements over the same timeframe resulted in the ADR outperforming. The share remains in a reasonably consistent uptrend and continues to find support in the region of the 200-day MA following pullbacks. A break in its sequence of higher reaction lows would be required to question medium-term scope for additional upside. 


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