Johnson & Johnson (J&J) is reportedly in advanced discussions to acquire Shockwave Medical ( NASDAQ:SWAV ), a leading player in the realm of cardiovascular devices. This strategic maneuver by the healthcare behemoth signifies a bold step towards expanding its foothold in the burgeoning cardiovascular market. According to reports from the Wall Street Journal, the...
Some notes that made SWAV a lower prob setup. The big drops near and below the 50SMA, took quite a long time to gain back. This is a sign that it is not institutional buying supporting the wedge and breakout.
- Strong sector and industry - Good consolidation - Volume signature is mostly bullish
Fundamentally really good company breaking down trend line in a strong sector. Options chain is pretty trash on it but can be a shares play.
ShockWave Medical, Inc. ( NASDAQ:SWAV ) Sector: Health Technology (Medical Specialties) Market Capitalization: $7.109B Current Price: $198.62 Breakout price: $200.15 Buy Zone (Top/Bottom Range): $194.30-$180.50 Price Target: $217.20-$221.90 (1st), $246.50-$249.80 (2nd) Estimated Duration to Target: 38-40d (1st), 83-88d (2nd) Contract of Interest: $SWAV 8/19/22...
$SWAV remains supported at $165 since early dec'21 when market experiences 2 period of weaknesses. not the strongest name for past months but could be poised to be a late runner. have been challenging VWAP from ATH since 2022. recaptured its 10week MA this week.
NASDAQ:SWAV went back over the 200MA and 200EMA. Candle with Volume (over average) is a good indicator, that the next rallye is coming (also broke negative Trend). The last two negative days were both under the average volume.
$TTCF Tattooed Chef Ready to Cook? 30+ Target