Edwards Lifescience is a long into earnings . While Pharmaceutical and Biopharma stocks have been taking a beating in 2018/19 medical device makers are on a roll , they are in one of the hottest trends in the market, seemingly bullet proof from they bears. NYSE:EW is on a perfect trend for 2 years and as earnings approach on the 23rd July it looks like a real good bet to move higher.
Indicators are all setting up bullish just at the right time.
Stock is poised to make a nearterm breakout.
News related selling has subsided and they buyers have flocked back in.
AVERAGE ANALYSTS PRICE TARGET $199
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
P/E RATIO 55
SHORT INTEREST 1.8%
COMPANY PROFILE
Edwards Lifesciences Corp. engages in the patient-focused medical innovations for heart disease and critical care monitoring. Its products are categorized into three areas: Transcatheter Heart Valves, Surgical Structural Heart and Critical Care. The Transcatheter Heart Valves portfolio includes technologies designed to treat heart valve disease using catheter-based approaches as opposed to open surgical techniques. Its portfolio includes technologies designed for nonsurgical replacement of heart valves. The Surgical Structural Heart portfolio includes tissue heart valves and heart valve repair products for the surgical replacement or repair of a patient's heart valve. The portfolio also includes a diverse line of cardiac surgery systems used during minimally invasive surgical procedures, and cannulae, embolic protection devices and other products used during cardiopulmonary bypass. The Critical Care portfolio products hemodynamic monitoring systems used to measure a patient's heart function and fluid status in surgical and intensive care settings. The company was founded by Miles Lowell Edwards in 1958 and is headquartered in Irvine, CA..
EW trade ideas
EW Breakout Play and Reminder: Its always good to brush up on our trading rules. One rule I live by is that past resistance acts as future support, in case you couldn't tell by the chart! In late June the price was met with resistance at $154. After retracing and testing support again, the stock is ready to try again. If the price does bust above previous resistance @$154 I'd expect a move up to $165 or higher. Earnings on 7/26 could be just the catalyst this thing needs to bring in the volume required for the move up. If earnings are bad though we could very well see a double top at these levels. I've got my eyes peeled with a finger on the trigger for this one.
$EW Good long opportunity This stock looks to me like a good opportunity for a trade.
Currently forming a Pennant which is a trend continuation chart pattern.
This stock is also relatively high volume, and trading well above Daily and Weekly 200 period moving averages. This just further helps see the strong Bull trend this stock has been going through. Remember, the trend is your friend! This stock is trading at new highs and there is no resistance in sight. Will be looking at whole numbers for potential resistance levels. (For example 110, 115, 120 and so on)
Earnings are being released on 4/26 so expect volatility!
As I mention with all my stock ideas the ideal entry is when the market has set new highs. Wait for the S&P to clear 2137 for the highest probability set up.