High Growth Medical Device Name Nears Breakout of Bull Flag
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.