Novo Nordisk could be dropping 15% from here

Sep 23

Looking at Novo Nordisk and the fundamental I have a hard time thinking Novo would drop further at this point. However the technical setup indicates that if we don't hold the current level we could drop more than 15% from here.

- The head and shoulder is complete now we just need to see if we can get a follow through.
- Closing price Friday was below the 200 daily moving average.

The recent price drop is caused by a dissapoint in early trial results of their pill Monlunabant.

Sep 30

Note

This prediction is going in the right direction. I have not shorted, as this is in my opinion a quality stock. However I would look for a reaction at the 700 level for a possible by opportunity.

Oct 9

Note

We have observed a breakout accompanied by increased volume, which is an encouraging signal. Currently, the price is hovering around the 0.618 fibonacci retracement level, which is a profit-taking zone as it may indicate a potential reversal point. However, before confirming a clear rejection, I would like to see a lower level on Novo Nordisk.