NVO - Novo Nordisk A/S

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

Wed 13'th Dec 2017

PERIOD 2017-09-14 - 2017-12-13
CHANGE 0.13%
PRICE $53.39
VOLUME
Buy
TREND
Buy

MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Sell

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Novo Nordisk A/S Stock Analysis

Technical stock analysis for Wed 13'th Dec 2017

Shorts 1.86% ( 2017-11-15 )
Cash 11 771.3 mill
Loans n/a
Beta 0.64
ROA 41.65
Buy candidate since 2017-11-29 Gain 4.03%

Novo Nordisk A/S gained 0.13% in the last trading day, rising from $53.32 to $53.39 , and has now gained 5 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 7 of the last 10 days and is up by 4.03% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.80 million more shares were traded than the day before. In total, 2.07 million shares bought and sold for approximately $110.54 million.

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Trend

Novo Nordisk A/S has broken the weak rising the short-term trend up and an even stronger rising rate is indicated. For any reaction back there will now be support on the roof on the current trend broken at $53.08, a level that may pose a second chance to hit a runner. According to fan-theory $55.97 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.

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Signals

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 $52.22 and $50.83. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday December 05, 2017, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.

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Relative Strength Index (RSI)

RSI14 is 60 and the stock is currently not being overbought or oversold

Access full RSI 14 and RSI 21 lists

Support & Resistance

On the downside, the stock finds support just below today's level from accumulated volume at $49.06 and $48.83. 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.

There is 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 $49.06. If this is broken, then the next support from accumulated volume will be at $48.83 and $47.53.

Support: $49.06 Price: $53.39

Risk

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 $0.45 (0.85%) between high and low. For the last week, the stock has had a daily average volatility of 1.21%.

Our recommended stoploss: $50.97 (-4.52%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 6 days ago.)

Overall risk:

Very Low Low Medium High Very High

Evaluation

Novo Nordisk A/S holds several positive signals and has broken the weak rising trend up. As the stock is also in great technical shape, we therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

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