NOVO NORDISK B A/SShort
Revising the head and shoulders pattern on NOVO
Since my previous analysis on Novo Nordisk NOVO_B , the price has nearly reached the original target of 700.
https://www.tradingview.com/chart/NOVO_B/NTWlAtN8-Novo-Nordisk-could-be-dropping-15-from-here/
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 onNOVO_B . Instead, it appears to be more of a profit-taking opportunity for those who entered short positions near the levels indicated in my earlier post.
NOVO_B , the price has nearly reached the original target of 700. https://www.tradingview.com/chart/NOVO_B/NTWlAtN8-Novo-Nordisk-could-be-dropping-15-from-here/
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
NOVO_B . Instead, it appears to be more of a profit-taking opportunity for those who entered short positions near the levels indicated in my earlier post.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.