Edwards Lifesciences Corp (EW) has been in consolidation phase since Sept 2010, forming 5/6 of a "Head & Shoulders" market top chart pattern. MACD momentum is getting lower on this last leg of uptrend. Immediate support level will be around 60 - 60.65, failing to hold, it would be a long term down trend most probably.
Though it is a Fundamental strong company, price to intrinsic value is around 2.25 times.. its way too expensive, so i think i am going to invest from the "Short" side :-0
Though it is a Fundamental strong company, price to intrinsic value is around 2.25 times.. its way too expensive, so i think i am going to invest from the "Short" side :-0
