Novo Nordisk A/SLong
NOVO - 23% weight loss causes 23% price drop
Head and Shoulders pattern complete, price drops from $148 to sub $80.
The drop from the head of the pattern is 23%, we should now be in Wave 5 where the final drop is 23%.
Cagrisema fat loss is 23% (below expectation of 25%). Wall St trims 23% off the stock price.
Largest sell volume seen in the stock, going into the oversold territory - 19 RSI on Daily, most oversold it's been in over a decade.
Possible support from the following confluence:
200 Week EMA, Golden Fibonacci pocket 0.618, possible end of 5th wave.
Time to DCA, from $78 down to $58, for a 3-5 year hold.
Not financial advice
The drop from the head of the pattern is 23%, we should now be in Wave 5 where the final drop is 23%.
Cagrisema fat loss is 23% (below expectation of 25%). Wall St trims 23% off the stock price.
Largest sell volume seen in the stock, going into the oversold territory - 19 RSI on Daily, most oversold it's been in over a decade.
Possible support from the following confluence:
200 Week EMA, Golden Fibonacci pocket 0.618, possible end of 5th wave.
Time to DCA, from $78 down to $58, for a 3-5 year hold.
Not financial advice
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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.
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.