Novartis AG (NYSE: NVS) Coverage Initiated at Chardan Capital

Analysts at Chardan Capital initiated coverage on Novartis AG (NYSE: NVS) stock, rating the company at Buy. Chardan Capital currently has a rating of Buy on the shares. The one-year price target of $94.00 is above the opening price of $81.20, resulting a number of other analysts to comment on the stock in recent days. Looking back over the last year, Novartis AG stock has a high of $95.11. Price changes targets are not unusual as analysts and brokerage firms will re periodic updates after initiating coverage,.

U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.

The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.

The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.

The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.

Yesterday Novartis AG (NYSE: NVS) shares last traded at $81.06, which is a spike of $1.12 over the previous closing price. Opening at $81.20, they varied from $80.99 and $81.37 throughout the day.

Novartis AG (NYSE: NVS) now has a market cap of 193.02B.

The stock’s average daily volume is 1,405,750 shares out of a total float 2,238,395,000 and some 1,342,125 shares traded hands yesterday, 72 percent below normal. Investors often use swings in trading volume to determine heavy volume growth or circulation by institutional investors, so trading volume is likely to increase in the next few days.

As with all potential breakouts, investors look for volume to be at least 40%-50% greater than normal on the breakout to show that fund managers and other professional investors are jumping in.

Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These instituitional investors have substantial teams of analysts researching thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.

By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.

Trades for Novartis AG (NYSE: NVS) have ranged from $69.90 – 95.11, and the stock now has a 50-day MA of $80.80 and 200-day MA of $78.33. Today’s last price is 0.15% under the 52 week high of $95.11.

Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors watch for companies that have been successful at growing their earnings at least 25% or more over the past 3 years.

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