In the past few sessions, NuVasive shares have suffered from a sharp fall and are now coming back to significant support levels.

Recently, EPS estimates for the two coming years have been revised upward by analysts. This positive fact opens the way for a better evaluation of the security by investors. Moreover, the company has growth characteristics due to future revenues estimated by analysts.

After several weeks of a downward movement, the stock is now back on the USD 38.9 with an oversold situation. In this area, the upward trend-line give one more argument for a bullish scenario.
The USD 38.91 area could cause a positive reaction for the coming trading sessions and allow a technical rebound towards the USD 43.1 mid-term resistance and before to the USD 42 (20-day moving average).

Thanks to the technical pattern and NuVasive’s strong fundamentals, active investors can open long trades above USD 38.9. The downside potential is limited and the timing seems good to benefit from a technical rebound.
The goals will be fixed at USD 42 in a first time and then at USD 43.1.
However, a bearish trend would regain the upper hand if the security crosses USD 38.9.