CLVS Clovis Oncology daily chart

Clovis Oncology Inc. (CLVS) – great downward potential

ISIN: US1894641000

Clovis Oncology Inc. is a biopharmaceutical company from the USA that mainly distributes products for treatment in oncology. The company has license agreements with Pfizer Inc., AstraZeneca UK Limited, Advenchen Laboratories LLC and Celgene Corporation. The company was founded in 2009 and has its headquarters in Boulder, Colorado.
The following analysis will go into more depth on the company’s stock from a technical point of view.

Review (daily chart)

In the daily chart, we can see an upward trend that was broken in the beginning of April when the last low point at 56.56 USD was undercut (red line). In the further course of things, a new downward trend formed, which is currently over 50% into the correction.

 

CLVS Clovis Oncology daily chart

CLVS Clovis Oncology daily chart

 

Short-term outlook (hourly chart)

In the hourly chart, we can easily see the superior downward trend. In order to enter into this value, one should wait for the formation of a signal, which should appear in the form of a trend reversal in the hourly chart (as drawn in) or of a reversal bar in the daily chart. The targets being aimed at (green zones in the daily chart) are in the area around 46 USD in the short term and in the areas around 26.20 USD and 12.50 USD in the long term.

If the price clearly and sustainably exceeds the area of the last significant high point at 59.70 USD, one should abandon the short scenario.

 

CLVS Clovis Oncology hourly chart

CLVS Clovis Oncology hourly chart

 

Before trading, one should take news in the environment and from the company into account. Similarly, one should also observe the overall market.

 

 

 

Neither the author nor our company is invested in the securities and underlyings discussed at the time of publishing this analysis.

Disclaimer:

Exchange transactions are associated with significant risks. Those who trade on the financial and commodity markets must familiarize themselves with these risks. Possible analyses, techniques and methods presented here are not an invitation to trade on the financial and commodity markets. They serve only for illustration, further education, and information purposes, and do not constitute investment advice or personal recommendations in any way. They are intended only to facilitate the customer’s investment decision, and do not replace the advice of an investor or specific investment advice. The customer trades completely at his or her own risk.

Clovis Oncology Inc. (CLVS) – great downward potential
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