NOVO has developed an H&S formationAs others have also mentioned on Trading View, NOVO has developed an H&S formation.
The formation is to some extent supported by volume.
Volume should be large when forming the left shoulder 1, as well as when forming the head 2, and when the price goes down at the right shoulder 4, but when forming the right shoulder the volume should be low 3. It is not.
Since May, the volume balance has been negative, i.e. high volume at the price bottom and low volume at the price peak.
At 794, there
NOVO - Short term targetSupport Resistance
Weekly support works
Wave
We expect a potential correction aligning with Fibonacci levels
RSI - No reversal signal yet
Daily - Oversold
Weekly - Oversold
MACD - No reversal signal yet
Daily - Sell histograms is growing
Weekly - Sell histograms is growing
Opening price 625
Take profit 1 660
Take Profit 2 692
Stop loss 584
Novo Nordisk hit my target this week and I have started to buy The head and shoulders pattern successfully played out, with OMXCOP:NOVO_B reaching my full target at 670.
Check out my original post:
The stock experienced a significant drop, falling as much as 27% on the Friday before Christmas. This was triggered by test results for their obesity drug, CagriSema, which showed patient weight loss of 22.7% - below the anticipated 25%.
I believe this reaction is an overcorrection and have taken advantage of this rare opportunity to purchase OMXCOP:NOVO_B
Novo completely oversold🐂 Trade Idea: Long - NOVO
🔥 Account Risk: 20.00%
📈 Recommended Product: Stock
🔍 Entry: +/- 750.00
🐿 DCA: No
😫 Stop-Loss: 675.00
🎯 Take-Profit #1: 1,000.00 (50%)
🎯 Trail Rest: Yes
🚨🚨🚨 Important: Don’t forget to always wait for strong confirmation once possible entry zone is reached. Trade ideas don’t work all the time no matter how good they look. Do not get a victim of FOMO, there is always another trade idea waiting. 🚨🚨🚨
If you like what you see don’t forget to leave a comment 💬 or sma
MAERSK UptrendTREND
According to the wave structure, it is still in the downtrend
However, head and shoulders formation is a powerful reversal indicator.
It also formed a blue channel , now targeting the upper band
Moving Averages
20-day (Red) crosses 50-day (Orange) from down to up (powerful indicator supporting uptrend)
100-day (Turquoise) is below the current price (so supports uptrend)
200-day (Blue) is right below the current price (it becomes support now)
SUMMARY
Based on this analys
NOVO Up TrendTREND
We may be at the end of the correction, namely the 3 ABC waves within the downward (orange) channel.
It may form a reversal formation with the blue harmonic pattern.
At the same time, the TOBO formation will also be formed.
MA
In this case, the 100-day (turquoise) will have worked as support.
The last 100-day was seen in 2021.
Thus, the upward trend can continue without breaking the 20-day to 50-day.
NOVO Down TrendTREND
The red trend line from 2022 has been broken. It may be doing a pullback for confirmation.
It continues its movement within the orange channel that started in 2024. It may be the 3rd of the 5-wave.
The green trend line from 2021 is the first target before the purple main support.
The purple support formed in 2023 is the strongest level. It is also Fibo 0.618.
MA
20-day (Red), 50-day (Orange) is cutting down from the top.
100-day (Turquoise) has been working as support since
New Zealand dollar eyes RBNZ rate announcementThe New Zealand dollar is in positive territory on Tuesday, after a four-day losing streak. In the European session, NZD/USD is trading at 0.5850, up 0.09% on the day. Earlier, the New Zealand dollar fell as low as 0.5797, its lowest level since Nov. 1.
The Reserve Bank of New Zealand makes its rate announcement on Wednesday and the markets have priced in a jumbo rate cut of a 50 basis point for a second straight meeting. This would bring the cash rate to 4.25%, its lowest level since November
Revising the head and shoulders pattern on NOVOSince my previous analysis on Novo Nordisk OMXCOP:NOVO_B , the price has nearly reached the original target of 700.
However, I have made slight adjustments to the head and shoulders pattern, which has consequently led to a revised target at the value area low of the range from late 2023 at around 670.
At this point, I would not consider this an ideal time to initiate a short position on OMXCOP:NOVO_B . Instead, it appears to be more of a profit-taking opportunity for those who entered
You can buy it here.. Its fineOMXCOP:VWS
Recent pullback is a fine buying opportunity.
Maybe we bottomed and break the downtrend now,
Maybe we have a leg lower to ~120 - a chance to back up the truck.
In any case this one will AT LEAST double in value over the next 3 years.
Europe will make a lot of windmills in the next 3 years, it is vital for the future of European energy independence, so if you believe there is a future - then this is a good company to build a position in this winter.
Cheers.
Novo Nordisk Correction: Key Levels & Opportunities for InvestorNovo Nordisk, Europe’s largest publicly traded company, has experienced exceptional growth, especially in the diabetes and obesity treatment markets. Known globally for its expertise in insulin production, Novo Nordisk has also recently expanded into the obesity treatment market with products like Wegovy, which have seen rapid adoption and driven substantial revenue gains. Strong financials and a robust R&D pipeline make it a leading global player, well-positioned for future growth in metabolic
NOVO NORDISK: recovering from sicknessThe current market setup for Novo shows a clear consolidation within the larger trend structure, indicating key decision points ahead for traders. If the resistence breaks and stays over it the stock should have a good time. It could be that the price falls to DKK750-710 but should recover from this point on.
Thank you for taking the time to read my analysis. I look forward to hearing your thoughts.
Best regards,
Mattner.
no investment advice
Novo Nordisk could be dropping 15% from hereLooking at Novo Nordisk and the fundamental I have a hard time thinking Novo would drop further at this point. However the technical setup indicates that if we don't hold the current level we could drop more than 15% from here.
- The head and shoulder is complete now we just need to see if we can get a follow through.
- Closing price Friday was below the 200 daily moving average.
The recent price drop is caused by a dissapoint in early trial results of their pill Monlunabant.























