Following the theme of the Trade of the Day from my colleague Jon Markman today, I wanted to highlight some of the pharmaceutical stocks that are lighting up with strong bull trends in my Power Stocks scanner.
I’ll leave it up to you to decide which strike price and month are appropriate for your trading style, but be sure to give yourself enough time to be right. I’ve also included the support and volatility levels my scanner has detected for these stocks. An average volatility is considered to be 20.
- Coventry Health (NYSE:CVH) is a reestablished buy, meaning the stock has confirmed its upward trend after a temporary pullback. Such a bounceback is one of the most reliable buy signals. The stock shows support at $48.
- Novo Nordisc (NYSE:NVO) has been in an upward trend for over a week, and displays good upside characteristics relative to other stocks. It has support at $169.
- Biogen Idec (NASDAQ:BIIB) is a powerhouse, one of the strongest bullish stocks I’m seeing right now. $191 is the support level for this stock.
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