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.
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Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.