Novartis AG (NVS) NewsBite - NVS Is On the Move

Posted: Tuesday, October 27, 2009 10:19 AM EDT

Novartis AG (NVS) appears to be on the move today and is now at $52.19, up $1.19 (2.34%) on volume of 507,316 shares traded. Over the last 52 weeks the stock has ranged from a low of $33.34 to a high of $52.51. Novartis AG stock has been showing support around $50.01 and resistance in the $52.63 range. Technical indicators for the stock are neutral and S&P gives NVS a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on NVS the stock seems like it could be a candidate for an April out-of-the-money bull-put credit spread below the 45 range. [ABR-Seven Summits Strategic Investments NewsBite]

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