Displaying strong sales & earnings momentum
Uptick in relative strength
extreme contraction in volatility and volume while hovering near the top of prior base
Already had a BO before election results from a 15wks/18% shallow flat base which had VCP characteristics
experienced some correction during election results related volatility but recovered quickly
Novo Nordisk is emerging from a textbook volatility compression pattern (VCP) - the setup made famous by Mark Minervini. Notice the series of progressively shallower pullbacks from left to right as supply has been absorbed by buyers.
NVO is a market-leading stock by all accounts. Shares are up 75% over the last twelve months with no signs of slowing down. This is...