Trade holds its gain as the weekly MACD turns positive
Novo Nordisk drops 3.1% this week as the weekly MACD turns positive
Trade holds its gain as the weekly MACD turns positive
Our view last week
Novo Nordisk shares gain 1.7% and are now pressing right up against the breakout trigger in the 52 area, after the double bottom in the 42 area that already produced a 10% rebound. On the daily chart money flow stays positive, but volume is contracting and buyer dominance is fading just below resistance. Weekly technical analysis: the trade sits at +14.7% since entry, ranked 36th among the 112 US Longs.
This week's summary
Novo Nordisk slips 3.1% this week with sellers in the majority, but the weekly MACD has just turned positive and money flow stays firm: signs of a slowdown, not a reversal of the underlying trend. The stock is holding inside the double bottom in the 43 area that already produced a 6% rebound. Novo Nordisk shares remain a buy still in profit, and the weekly technical analysis shows a picture that's still intact, just less decisive.
IQS Phase
47
ordinary
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#37 / 124
US stocks in progress
Trade P&L %
+11.14%
from signal to today
Rank position
ranks 37th among the 124 Longs already running for US stocks in our ranking, with a signal strength of 66 out of 100.
Sector context
SectorHealth Care
Benchmark ETFXLV
Sector regimein positive regime
Performanceweekly +0.92% · monthly +6.01%
NVO belongs to the health care sector (reference ETF XLV). The sector is classified in positive regime according to our weekly reading.
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