Novo Nordisk (NVO) has declined 61.13% from its all-time high of $148 (June 2024), finding support at $57.55. Over the past two weeks, the stock has rebounded over 15%, currently trading around $66.30, with strong reversal signals just ahead of earnings.
This setup presents a compelling opportunity, both technically and fundamentally, for a tactical trade or a longer-term position.
Simply Wall St
🔍 Technical Highlights:
✅ Rebound from long-term ascending trendline (~$57–58 zone)
✅ RSI rising from oversold levels (28 → 32 and climbing)
✅ MACD approaching a bullish crossover, indicating momentum shift
✅ Two consecutive green weekly Heikin Ashi candles post-bottom
✅ Defined risk with invalidation below $57 support
📈 Trade Setup:
🟢 Entry Zone: $66–68 (current price range)
🔴 Stop Loss: Below $57.00 (break of structure and breakout base)
MarketWatch
+6
StockAnalysis
+6
Simply Wall St
+6
✅ TP1: $78 – previous support zone
✅ TP2: $90 – February 2025 high before the selloff
✅ TP3: $110 – around December 2024’s local top
🗓️ Earnings – May 7, 2025
🔹 Analysts project ~19.7% YoY revenue growth
🔹 Continued strong demand for Ozempic and Wegovy
🔹 Forward P/E ratio at 16.33, below industry average
🔹 Robust margins and high institutional ownership
🔹 Significant free cash flow and a promising innovation pipeline
StockAnalysis
📌 This appears to be a high-quality oversold bounce with a well-defined risk/reward structure ahead of a significant earnings catalyst. Whether you're considering a swing trade or building a core position, this setup aligns both technical and fundamental factors.
Let’s monitor how this unfolds. 📊🔬
Disclaimer: This is not financial advice – just sharing my perspective. Please conduct your own research before making investment decisions.
This setup presents a compelling opportunity, both technically and fundamentally, for a tactical trade or a longer-term position.
Simply Wall St
🔍 Technical Highlights:
✅ Rebound from long-term ascending trendline (~$57–58 zone)
✅ RSI rising from oversold levels (28 → 32 and climbing)
✅ MACD approaching a bullish crossover, indicating momentum shift
✅ Two consecutive green weekly Heikin Ashi candles post-bottom
✅ Defined risk with invalidation below $57 support
📈 Trade Setup:
🟢 Entry Zone: $66–68 (current price range)
🔴 Stop Loss: Below $57.00 (break of structure and breakout base)
MarketWatch
+6
StockAnalysis
+6
Simply Wall St
+6
✅ TP1: $78 – previous support zone
✅ TP2: $90 – February 2025 high before the selloff
✅ TP3: $110 – around December 2024’s local top
🗓️ Earnings – May 7, 2025
🔹 Analysts project ~19.7% YoY revenue growth
🔹 Continued strong demand for Ozempic and Wegovy
🔹 Forward P/E ratio at 16.33, below industry average
🔹 Robust margins and high institutional ownership
🔹 Significant free cash flow and a promising innovation pipeline
StockAnalysis
📌 This appears to be a high-quality oversold bounce with a well-defined risk/reward structure ahead of a significant earnings catalyst. Whether you're considering a swing trade or building a core position, this setup aligns both technical and fundamental factors.
Let’s monitor how this unfolds. 📊🔬
Disclaimer: This is not financial advice – just sharing my perspective. Please conduct your own research before making investment decisions.
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💹 Expert strategies & updates
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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.
Seizing Opportunities, Maximizing Returns. With 7+ years of experience, we provide accurate insights and trading signals.
💹 Free daily signals & analysis
💹 Expert strategies & updates
Join now: t.me/valchevfinance
💹 Free daily signals & analysis
💹 Expert strategies & updates
Join now: t.me/valchevfinance
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.