Filed under: Good news, Products and services, Novartis AG ADS (NVS), Options, Technical Analysis
Novartis AG (NYSE: NVS) shares are trading higher today after the company reported progress with Galvus, a drug the company is developing to treat type-2 diabetes. Shares are up slightly on this news even as another drug being developed by NVS and Momenta (NASDAQ: MNTA) was denied approval by the FDA. If you think that the company won’t fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on NVS.
After hitting a one-year high of $61.6 last November, the stock hit a one-year low of $51.19 in August. NVS opened this morning at $53.52. So far today the stock has hit a low of $53.07 and a high of $53.61. As of 11:20, NVS is trading at $53.10, up $0.17 (0.3%). The chart for NVS looks bearish and steady, while S&P gives the stock a neutral 3 STARS (out of 5) hold rating.
Continue reading Novartis (NVS) sees progress on diabetes drug
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