NFTRH+ Trade Setup: SNY

Non-traders or those not interested in this type of trade please disregard!

Continuing the idea of dry running and refining NFTRH+, here is an interesting chart I came across for French Pharmaceutical company Sanofi (SNY).

While you should always do your own due diligence before buying anything, a quickie shows a forward P/E of just over 13 and an ex-dividend (3.6% yield) date coming up in May.

The pattern is what some would call an Inverted H&S, but could be a potential ‘Cup’ in the making.  It may settle down to the dotted neckline at 52 or even the moving averages below 52, but I have bought the current little consolidation.

sny.daily

Actually it is a second Cup (as the weekly chart below shows).  The first one failed to activate.  MACD looks very good and RSI is above 50.  Alternatively to a buy on a decline to 51-52, one might await a breakout above the red line.

sny.weekly

Buy Target:  51 to 52, or an upside breakout

Sell Target:  57 (measurement)

Stop Loss:  As suits individual risk tolerance below the moving averages / 51.

Note (5.15.14):  SNY sold for very small, as yet undetermined gain (factoring dividend).  Sale is due to broad stock market view.