$NOVN Novan Inc Flagging, Buy Above $3
NOVN is in a bull flag and on the verge of a breakout. The way to trade is to go long NOVN above $3. A move above $3 will test the 52-week highs of $3.24.A move above $3.24 and we will look to close the gap to $4.19.
Risk is minimal as a move above $3 should work out right away. If
NOVN closes the gap, upside is 40%.Not a bad risk/reward play is it?
As always, use protective stops and trade with caution.
Good luck to all!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.