$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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