Chart of the Day

Novocure Ltd. (NVCR, Nasdaq)

Close: 175.85

We don’t buy stocks because of the “story”, but this one truly captures the imagination.

In 2007, I read a book called “The End of Medicine: How Silicon Valley (and Naked Mice) Will Reboot Your Doctor” about how technology was going to change the medical landscape in ways we couldn’t imagine. It seems we are living that now.

The convergence of Artificial Intelligence and medicine is rising rapidly in the field of electronic medicine using radio frequency and microscope technology that was invented decades ago. Apparently Novocure’s technology can literally cure some cancers. One battle will be with the pharmaceutical industry that clearly has a financial interest in treating illness rather than curing it.

I have hope that the desire for progress, and to help and save the lives of countless people will prevail. In the next decade this technology could become central to the new medicine that lies ahead.

 

“This is not about micro machines delivering medicines, nor is it about RNA/DNA changes. This is a far more nuanced medicine and very few in the medical or tech world understand it. This is about the next Apple like company of this new industry.”

– ReadMultiplex.com

 

I don’t know if @readmultiplex is right or not but NVCR is already a leading stock above all of our rising moving averages and meeting our Buy criteria.

Last week we established a small position at $174.60. Today the stock has broken out its 7 week consolidation range and sits at $183.40. The plan is to add to that position if it can continue it’s primary uptrend, but we’ll see how it behaves over the next few days and whether the breakout can hold on any volume. Our stop on this position will vary depending on market conditions and NVCR earnings developments.

 

 

 

 

 

 

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