Novo Nordisk (NVO) is basing after an extreme drawdown — the stock ran from ~$40 to ~$150 through 2024, then gave nearly all of it back in a sharp decline back to the low $40s on GLP-1 competition and trial-data pressure.
Price just printed an +11.30% weekly reversal candle, closing at 48.07, and the pattern detector has flagged the recovery structure off the bottom as a Bullish Pennant.
Setup — Weekly Bullish Pennant
Entry: 49.96
Stop: 24.83
Target: 150.49
Risk:Reward: ~4R
R:R Quality: 80% | Pivot Depth: 100% | 26 bars since the pennant break
Price is sitting just under the 49.96 trigger after this week's reversal candle — not yet confirmed above the entry line.
Momentum
The custom ML RSI is climbing out of the high-30s/low-40s zone with a rising trendline under the recent lows, supporting the base-building thesis alongside price.
Invalidation
A weekly close back below the 24.83 stop invalidates the pennant thesis and would suggest the downtrend is resuming rather than basing.
Bias
Bullish above 49.96 confirmation, targeting a measured move back toward 150.49. This is a multi-month, high R:R swing setup — not a quick trade.
This is technical analysis for educational purposes, not financial advice. Do your own research and manage risk accordingly.
Price just printed an +11.30% weekly reversal candle, closing at 48.07, and the pattern detector has flagged the recovery structure off the bottom as a Bullish Pennant.
Setup — Weekly Bullish Pennant
Entry: 49.96
Stop: 24.83
Target: 150.49
Risk:Reward: ~4R
R:R Quality: 80% | Pivot Depth: 100% | 26 bars since the pennant break
Price is sitting just under the 49.96 trigger after this week's reversal candle — not yet confirmed above the entry line.
Momentum
The custom ML RSI is climbing out of the high-30s/low-40s zone with a rising trendline under the recent lows, supporting the base-building thesis alongside price.
Invalidation
A weekly close back below the 24.83 stop invalidates the pennant thesis and would suggest the downtrend is resuming rather than basing.
Bias
Bullish above 49.96 confirmation, targeting a measured move back toward 150.49. This is a multi-month, high R:R swing setup — not a quick trade.
This is technical analysis for educational purposes, not financial advice. Do your own research and manage risk accordingly.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.