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NVO - Novo Nordisk A/S

Industry: Drug Manufacturers - Other Sector: Healthcare Exchange: NYSE

Fri 23'rd Feb 2018

PERIOD 2017-11-24 - 2018-02-23
CHANGE 1.64%
PRICE $53.93
VOLUME
Sell
TREND
Hold

MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Buy

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Novo Nordisk A/S Stock Analysis

Technical stock analysis for Fri 23'rd Feb 2018

Shorts 2.22% ( 2018-01-31 )
Cash 11 879.5 mill
Loans n/a
Beta 0.58
ROA 38.15
Hold candidate since 2018-02-23

Novo Nordisk A/S gained 1.64% in the last trading day, rising from $53.06 to $53.93 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 8 of the last 10 days and is up by 11.15% over the past 2 weeks. Volume fell in the last day by -1.86 million shares, and in total, 1.36 million shares bought and sold for approximately $73.18 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.

Access today's Top 5 Hold/Accumulates

Trend

Given the current horizontal trend you can expect Novo Nordisk A/S with 90% probability to be traded between $48.76 and $58.45 at the end of this period with 90% probability. 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 roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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Signals

Novo Nordisk A/S holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at $51.96 and $53.79. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday February 08, 2018, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.

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Relative Strength Index (RSI)

RSI14 is 66 and the stock is currently not being overbought or oversold

Access full RSI 14 and RSI 21 lists

Support & Resistance

Novo Nordisk A/S finds support from accumulated volume at $51.87. On the upside the stock meets some resistance just above today's level from accumulated volume at $55.50, $56.68 and $57.79.

The stock is about to test the resistance from accumulated volume at $55.50 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Support: $51.87 Price: $53.93 Resistance: $55.50

Risk

This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.81 between high and low, or 1.53%. For the last week, the stock has had a daily average volatility of 1.54%.

Our recommended stoploss: $51.84 (-3.87%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 10 days ago.)

Overall risk:

Very Low Low Medium High Very High

Evaluation

Novo Nordisk A/S holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate.

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