Edwards Lifesciences Corporation : Severely punished
By Alexandre Nutte
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$86.5 | $0 | $83.4 | -100% |
Nonetheless, recently, EPS estimates for the two coming years have been revised upward by analysts. This positive fact opens the way for a better evaluation of the security by investors.
Technically, in daily data, even if moving averages are still in a downtrend, a positive reaction in the USD 85.7 area should stop this trend and allow a technical rebound towards USD 94.55. Moreover, technical indicators show a significant oversold condition which strengthens this bullish scenario.
Therefore, the proximity of the USD 83.7 support is an opportunity to take a long position in Edwards Lifesciences. The first goal is a return in the USD 94.55 resistance. A stop loss order can be placed under the support currently tested.