NVO - Novo Nordisk A/S

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

Thu 19'th Oct 2017

PERIOD 2017-07-20 - 2017-10-19
CHANGE 1.10%
PRICE $50.68





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Novo Nordisk A/S Stock Analysis

Technical stock analysis for Thu 19'th Oct 2017

Buy candidate since 2017-10-13 Gain 6.63%

Novo Nordisk A/S gained 1.10% in the last trading day, rising from $50.13 to $50.68 , and has now gained 3 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 6 of the last 10 days and is up by 3.56% over the past 2 weeks. Volume fell in the last day by -0.63 million shares, and in total, 2.63 million shares bought and sold for approximately $133.38 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.


Novo Nordisk A/S lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 19.25% during the next 3 months and, with 90% probability hold a price between $57.10 and $62.43 at the end of this period.


Only positive signals in the chart today. Novo Nordisk A/S holds buy signals from both short- and long-term moving averages. In addition, 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 $49.34 and $48.68. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday October 13, 2017, 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.

A sell signal from a double top formation was found on Wednesday October 11, 2017 and based on theory for this formation the price should fall by -1.21% to $48.01 within 13 trading days since signal was issued (Monday October 30, 2017).

Relative Strength Index (RSI)

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

Support & Resistance

Novo Nordisk A/S finds support from accumulated volume at $49.06. There is no resistance from accumulated volume above today's level and given the right condition the stock may perform very well during the next couple of days.

Support: $49.06 Price: $50.68


This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.52 (1.03%) between high and low. For the last week, the stock has had a daily average volatility of 1.19%.

Our recommended stoploss: $48.99 (-3.33%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 4 days ago.)

Overall risk:

Very Low Low Medium High Very High


Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term.

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