Covance Inc. : The share is well oriented
Entry price | Target | Stop-loss | Potential |
---|
$75.63 |
$87 |
$74.52 |
+15.03% |
---|
Covance is still well oriented and is going to new highs.
Regarding the fundamentals, 1Q earnings were strong with an EPS up 24.7% at $0.75. Net sales were also encouraging at $580 million, representing a 9% growth.
Technically, prices continue to increase sharply for several month. On all time scales, all indicators are green and moving averages are well oriented. The security is now moving toward the short-term resistance located at USD 76.35 and seems able to breakout soon. This crossing would provide a strong buy signal.
Investors could take a buy position once prices will be above the 76.35 resistance to aim USD 87. A stop loss will be positioned under USD 74.80.
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