Novo Nordisk A/S Stock Forecast

Novo Nordisk A/S stock price ended at $122.75 on Thursday, after losing 1.43%.
(Updated on Apr 18, 2024)

NVO Signals & Forecast

There are few to no technical positive signals at the moment. The Novo Nordisk A/S stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $124.21 and $127.94. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -9.69%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Novo Nordisk A/S stock

Novo Nordisk A/S finds support from accumulated volume at $118.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.58 between high and low, or 1.29%. For the last week the stock has had daily average volatility of 1.82%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (NVO) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Novo Nordisk A/S to open at $123.12, and during the day (based on 14 day Average True Range), to move between $120.18 and $125.32, which gives a possible trading interval of +/-$2.57 (+/-2.09%) up or down from last closing price. If Novo Nordisk A/S takes out the full calculated possible swing range there will be an estimated 4.18% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $118.26 (3.66%) than the resistance at $133.07 (8.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Novo Nordisk A/S stock A Buy?

The Novo Nordisk A/S stock holds several negative signals and despite the positive trend, we believe Novo Nordisk A/S will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.346 Sell Candidate Unchanged

Predicted Opening Price for Novo Nordisk A/S of Friday, April 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.