FREE Guide: 6 Fibonacci Types that Create the Most Precise Price Levels, Targets, and Reversal Zones

May 3 Chart of the Day - Catalent

Precision oriented price action technical analysis by far provides the best edges and most setups for traders across the markets so that's what we use for the basis of our reviews.

Catalent, Inc. (CTLT) is a US based Contract Development and Manufacturing Organizations (CDMO). CDMOs are companies that provide services to pharmaceutical, biotechnology, and medical device companies on a contract basis.

The company has been in the headlines this week regarding its prospective $16.5B acquisition by Novo Nordisk's parent company so we wanted to review their chart from a price action technical analysis perspective.

Monthly Chart 

Catalent monthly price action technical analysis review

On the monthly chart we can see that price is well of its $142.64 all time high (ATH) set back in 2021.  Since then price has made a very dramatic series of lower lows and lower highs before bouncing around the $35 area where previous support/resistance presented itself.

We can see price now may be attempting to form a new series of higher highs and higher lows.

Weekly Chart

Catalent weekly price action technical analysis review

On the weekly chart we can see with much more clarity the rapid descent from ATHs back towards previous price structure and the recent bounce.

Price seemingly is at a major decision point on this chart of whether to break out to the upside or fade back down to the previously mentioned levels.

We've also layered in Fibonacci levels in both directions  to use as potential levels of interest and/or future price targets.

Armed with precision oriented charts like these both traders and investors can formulate their respective plans.

So what's next? 

We don't make predictions...

Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.

  1. Support/Resistance
  2. Trend
  3. Fibonacci 
  4. Supply/Demand Zones,
  5. Change Control Zones

ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.

Take a look at the charts and let us know what you think.  

We'd like to hear from you in the comments sections. 

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1 comment

  • sure thanks


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