NOVO-NORDISK A/S-SPONS ADR (NVO) Stock Technical Analysis
USA • New York Stock Exchange • NYSE:NVO • US6701002056
We assign a technical rating of 7 out of 10 to NVO. Although NVO is a bad performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- 73% of all other stocks performed better in the past year than NVO.
- The long and short term trends are both positive. This is looking good!
- NVO has an average volume of 20059900 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- NVO is part of the Pharmaceuticals industry. There are 191 other stocks in this industry, NVO did better than 51% of them.
- NVO is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so NVO is lagging the market.
- In the last month NVO has a been trading in the 51.41 - 64.16 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
NVO has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 59.42, a Stop Loss order could be placed below this zone.
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44.93
We found 3 important support areas.
- A support zone ranging from 59.24 to 59.42. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @51.23 from a trend line in the daily time frame.
- Support @45.38 from a horizontal line in the daily time frame.
We can see 2 important resistance areas.
- Resistance @62.34 from a horizontal line in the weekly time frame.
- A resistance zone ranging from 63.54 to 63.99. This zone is formed by a combination of multiple trend lines in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for NVO is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for NVO is up. |
| ChartMill Relative Strength | 27.07 | NEGATIVE | NVO has a low relative strength, it was outperformed by 72.93% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of NVO is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of NVO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of NVO is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 55.16 | NEUTRAL | The RSI value for NVO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.35 | NEGATIVE | The MACD value suggests NVO has a negative trend. |
| Stochastics (14,3) | 43.29 | NEUTRAL | The Stochastics value for NVO is a neutral value. |
| Average True Range in percent/ATR (20) | 3.85 | MEDIUM VOLATILITY | The ATR as a percentage value for NVO suggests some volalility. |
| Average Directional Index/ADX (14) | 31.97 | POSITIVE | The high ADX value value for NVO suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 62.35 | 59.23 | 3.12 (5.00%) | 19.98% |
| An entry @62.35. This is a Buy Stop order right above the resistance zone. | An exit @59.23. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 3.12 points, which is 5.00%. | For a 1.00% total portfolio risk, you can invest 19.98% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of NVO. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
59.43
+0.1 (+0.17%)
NOVO-NORDISK A/S-SPONS ADR / NVO FAQ
Can you provide the ChartMill technical rating for NOVO-NORDISK A/S-SPONS ADR?
ChartMill assigns a technical rating of 7 / 10 to NVO.
What is the current trend direction of NOVO-NORDISK A/S-SPONS ADR (NVO) stock?
The current trend direction for NOVO-NORDISK A/S-SPONS ADR (NVO) is Bullish.
Can you provide the RSI signal for NOVO-NORDISK A/S-SPONS ADR?
NOVO-NORDISK A/S-SPONS ADR (NVO) has an RSI value of 55.1593. This indicates that the stock is currently neutral.
What is the short term momentum for NVO stock?
The short term momentum for NOVO-NORDISK A/S-SPONS ADR (NVO) is positive.
What are the support and resistance levels for NOVO-NORDISK A/S-SPONS ADR (NVO) stock?
NOVO-NORDISK A/S-SPONS ADR (NVO) has a support level at 59.42 and a resistance level at 62.34. Check the full technical report for our detailed analysis of NVO support and resistance levels.