Novo Nordisk A/S Stock Forecast
Novo Nordisk A/S stock price ended at $132.41 on Friday, after losing 1.17%.
(Updated on May 17, 2024)
The Novo Nordisk A/S stock price fell by -1.17% on the last day (Friday, 17th May 2024) from $133.98 to $132.41. During the last trading day the stock fluctuated 5.43% from a day low at $128.05 to a day high of $135.00. The price has risen in 8 of the last 10 days and is up by 8.97% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -24 thousand shares and in total, 5 thousand shares were bought and sold for approximately $600.74 thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Novo Nordisk A/S stock with a 90% probability to be traded between $123.20 and $138.85 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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NONOF Signals & Forecast
The Novo Nordisk A/S stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $131.13 and $126.29. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -1.17%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Novo Nordisk A/S stock
Novo Nordisk A/S finds support from accumulated volume at $127.45 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $6.95 between high and low, or 5.43%. For the last week the stock has had daily average volatility of 4.12%.
Our recommended stop-loss: $126.87 (-4.19%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (NONOF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Novo Nordisk A/S to open at $131.82, and during the day (based on 14 day Average True Range), to move between $127.20 and $137.62, which gives a possible trading interval of +/-$5.21 (+/-3.94%) 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 7.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $132.71 (0.23%) than the support at $127.45 (3.75%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Novo Nordisk A/S stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Novo Nordisk A/S stock to perform well in the short-term period.
Current score: 3.441 Buy Candidate Unchanged
Predicted Opening Price for Novo Nordisk A/S of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $131.82 ( 0.446%) | $132.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NONOF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 138.77 | 4.80 % | |
| R2 | 136.12 | 2.80 % | ||
| R1 | 134.47 | 1.56 % | ||
| Current price: | 132.41 | |||
| Support | S1 | 129.17 | -2.45 % | |
| S2 | 127.52 | -3.69 % | ||
| S3 | 124.87 | -5.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 134.69 | 1.72 % | |
| R2 | 133.98 | 1.19 % | ||
| R1 | 132.71 | 0.225 % | ||
| Current price | 132.41 | |||
| Support | S1 | 127.45 | -3.75% | |
| S2 | 123.79 | -6.51% | ||
| S3 | 122.91 | -7.18% |
NONOF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 22, 2024 | Mar 22, 2024 | Mar 22, 2024 | $0 | 0% |
| 2 | Aug 18, 2023 | Aug 18, 2023 | Aug 18, 2023 | $0.438 | 0.477% |
| 3 | Mar 24, 2023 | Mar 24, 2023 | Mar 27, 2018 | $1.19 | 4.81% |
| 4 | Aug 12, 2022 | Aug 12, 2022 | Aug 12, 2022 | $4.25 | 7.70% |
| 5 | Mar 25, 2022 | Mar 25, 2022 | Mar 25, 2022 | $1.02 | 1.94% |
FAQ
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