Novartis is looking for a direction, but the prospects are promising

Novartis announced the positive news from the PREVENT study evaluating the efficacy and safety of Cosentyx, one of the company's fastest-selling drugs in patients with non-radiographic axial spondylarthritis. More detailed reporting of the data will be presented at a later date, but it is an important program for the company and is one of several catalysts expected from the first quarter of the year.

We also note that stocks are slightly down, despite reports, of positive developments in attempts to treat multiple sclerosis. With the progress of this program, we expect progress in share prices.

With this positive catalyst, we expect the price to rebound from its current levels to return to the range for the 87.76 area test. In the short term, we could expect the price to rise to 90.31. The price is still below the 200 and 50 period averages, but the gold intersection of 17.07 is still up-to-date. From a fundamental point of view we have an improvement and promising prospects for the development of the company.

Alternatively, however, in the event of deterioration of the foundation or experiments, we can expect the price to continue its downward movement to the zone at 83.64, and subsequently to 80.71. Currently, the price is moving further away because of the pending said report on the data that will be provided later. These results will be a key catalyst for price direction.

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