Catalent Is about to beat earnings?
Now I've been watching Catalent, since they partnered up with one of the stocks I hold for a COVID treatment. Novan. Doing a quick glance at CTLT I noticed a TA pattern known as a double bottom and with certain catalyst coming out, maybe its about to run up and leave this bearish trend.
News
-ER is in 14 days
-They have partnered up with Novan to design the injection of Novan's product that can treat/reduce spread of COVID by 90%, which comes out in Q3.
TA
As you can see the curve lines represents the two bottoms and the top with two white lines pointing at support points. Now note that this could be just a trading zone, yet we will get into the bullish argument.
-MACD a cross over is turning bullish
-RSI is rising, yet would need to break 52.47. Also if you want, you could say its already bullish on the RSI with a small error margin in TA.
-Resistance would be at 110.87, 114.67, and finally the high of 125-127
-Support is at 106.89 and 100.52.
-The emas aren't bad with it ending on top of the 50ema which leans bullish in the short term.
-VPVR levels are really high at where it closes today with the resistance in the VPVR at 113 and the support at 106-107
Final thoughts
It leans bullish if the Double Bottom pattarn plays out and could see it run up nicely on ER. This ER is Q2 for Catalant, so the COVID play will come out sometime after.
News
-ER is in 14 days
-They have partnered up with Novan to design the injection of Novan's product that can treat/reduce spread of COVID by 90%, which comes out in Q3.
TA
As you can see the curve lines represents the two bottoms and the top with two white lines pointing at support points. Now note that this could be just a trading zone, yet we will get into the bullish argument.
-MACD a cross over is turning bullish
-RSI is rising, yet would need to break 52.47. Also if you want, you could say its already bullish on the RSI with a small error margin in TA.
-Resistance would be at 110.87, 114.67, and finally the high of 125-127
-Support is at 106.89 and 100.52.
-The emas aren't bad with it ending on top of the 50ema which leans bullish in the short term.
-VPVR levels are really high at where it closes today with the resistance in the VPVR at 113 and the support at 106-107
Final thoughts
It leans bullish if the Double Bottom pattarn plays out and could see it run up nicely on ER. This ER is Q2 for Catalant, so the COVID play will come out sometime after.
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