Novo Nordisk A/S Stock Forecast
Green day on Thursday for Novo Nordisk A/S stock after gaining 0.273%
(Updated on Mar 28, 2024)
The Novo Nordisk A/S stock price gained 0.273% on the last trading day (Thursday, 28th Mar 2024), rising from $128.05 to $128.40. During the last trading day the stock fluctuated 1.85% from a day low at $127.79 to a day high of $130.16. The price has fallen in 6 of the last 10 days and is down by -4.59% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 155 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $449.46 million.
Given the current short-term trend, the stock is expected to rise 29.33% during the next 3 months and, with a 90% probability hold a price between $166.06 and $186.17 at the end of this 3-month period.
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NVO Signals & Forecast
The Novo Nordisk A/S stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $129.12. On a fall, the stock will find some support from the long-term average at approximately $126.63. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume is rising along with the price. This is considered to be a good technical signal. 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, March 07, 2024, and so far it has fallen -5.53%. 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).
Support, Risk & Stop-loss for Novo Nordisk A/S stock
On the downside, the stock finds support just below today's level from accumulated volume at $114.74 and $109.02. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Novo Nordisk A/S finds support just below today's level at $114.74. If this is broken, then the next support from accumulated volume will be at $109.02 and $107.63.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.37 between high and low, or 1.85%. For the last week, the stock has had daily average volatility of 1.30%.
Our recommended stop-loss: $122.22 (-4.81%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (NVO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Novo Nordisk A/S to open at $128.78, and during the day (based on 14 day Average True Range), to move between $125.53 and $131.27, which gives a possible trading interval of +/-$2.87 (+/-2.23%) 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 4.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $133.07 (3.64%) than the support at $114.74 (10.64%), 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, 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 Novo Nordisk A/S stock to perform well in the short-term.
Current score: 4.374 Buy Candidate Unchanged
Predicted Opening Price for Novo Nordisk A/S of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$128.78 ( 0.299%) | $128.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NVO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 131.15 | 2.14 % | |
R2 | 130.25 | 1.44 % | ||
R1 | 129.69 | 1.00 % | ||
Current price: | 128.40 | |||
Support | S1 | 127.88 | -0.407 % | |
S2 | 127.32 | -0.84 % | ||
S3 | 126.41 | -1.55 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 135.92 | 5.86 % | |
R2 | 133.49 | 3.96 % | ||
R1 | 133.07 | 3.64 % | ||
Current price | 128.40 | |||
Support | S1 | 114.74 | -10.64% | |
S2 | 109.02 | -15.09% | ||
S3 | 107.63 | -16.18% |
NVO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 31, 2024 | Mar 22, 2024 | Apr 02, 2024 | $0.93 | 0.724% |
2 | Aug 10, 2023 | Aug 18, 2023 | Aug 29, 2023 | $0.88 | 0.93% |
3 | Feb 02, 2023 | Mar 24, 2023 | Apr 04, 2023 | $1.19 | 1.50% |
4 | Aug 05, 2022 | Aug 12, 2022 | Aug 23, 2022 | $0.584 | 1.10% |
5 | Mar 02, 2022 | Mar 25, 2022 | Apr 05, 2022 | $1.04 | 1.80% |
FAQ
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