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High Growth Medical Device Name Nears Breakout of Bull Flag

by | Mar 12, 2024

Shockwave Medical (SWAV) shares are bull flagging near the upper edge of its monthly value area and closed strong on Tuesday up +2.7%. SWAV held its 21-day EMA the past week on the small dip and stayed above the gap up from earnings last month that has consolidated nicely near 250-260. A break higher now likely can see a swift move towards the 290 untested VPOC from last year. SWAV has strong sales growth of over 20% expected each of the next two years and continues to be a solid growth name in the MedTech group after recovering since the mid 2023 selloff in the space.

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