Iqvia Holdings Inc. provides advanced analytics, technology solutions, and contract research services to the life sciences industry in the Americas, Europe, Africa, and the Asia-Pacific. It operates through three segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions.
Take a look at the 1-year chart of Iqvia (NYSE: IQV) below with added notations:
IQV has stalled at the same $145 resistance area (red) multiple times over the past two months. The stock has recently rallied towards that mark again, and now it sits just a few ticks below that $145 level. A solid close above the resistance should lead to another leg higher for IQV.
The Tale of the Tape: IQV has a 52-week resistance at $145. The possible long position on the stock would be on a breakout above that level with a stop placed under it.
Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.
No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!
Christian Tharp, CMT