The pharmaceutical company draws a path on the stock market completely different from that of its peers in the sector, more subject to ups and downs.

The pharmaceutical company draws a path on the stock market completely different from that of its peers in the sector, more subject to ups and downs.

The pharmaceutical company draws a path on the stock market completely different from that of its peers in the sector, more subject to ups and downs.

Rovi facilities in Granada.

The pharmaceutical Rovithe last listed company to join the Spanish selective, continues to develop a completely divergent stock market performance to the rest of the companies in the sector.

The contractual support by Moderna, for the manufacture of its vaccine against Covid-19 in Europe, continues to be the workhorse of a company that, since the lows of March 2020, has been developing a very strict bullish channel.

Your quote maintains a drawing of rising highs and lows that contains its evolution. Even when a batch of the vaccine shipped to Japan turned out to be defective, long-term investors were able to trim the declines suffered as the news digested in August 2021.

Stock market evolution of Rovi.

Stock market evolution of Rovi.
XTB

Laboratorios Rovi currently maintains this evolution, totally unrelated to the behavior of other pharmaceutical companies such as PharmaMar, Grifols or Almirall.

Recently, it has reached channel support, which it is a good entry opportunity with a target located between the two previous relative maximums 69.0-74.14 euros per share (green). Starting from the second level, could attack new highs taking advantage of Fibonacci of the last correction, with 161.8% at 82.53 euros per share (blue).

Risk management would be located at a first floor level between 60.08 euros and 61.52 euros per share (amber). Meanwhile, a position closing in the face of a change in trend, it would be between 52.57 euros and 56.17 euros per title (red).

***Dario Garcia He is an XTB analyst

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