NOVO-NORDISK A/S-SPONS ADR (NVO) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:NVO - US6701002056 - ADR
Overall NVO gets a technical rating of 6 out of 10. NVO has been a bad performer in the overall market. Some doubts are observed in the medium term time frame, but recent action was again very positive.
- When comparing the yearly performance of all stocks, NVO is a bad performer in the overall market: 75% of all stocks are doing better.
- The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
- NVO is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
- Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
- NVO has an average volume of 20451700 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- NVO is an average performer in the Pharmaceuticals industry, it outperforms 49% of 190 stocks in the same industry.
- 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.
NVO has an average technical rating and the quality of the presented setup is also not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
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44.93
When analyzing the support we can see 5 important areas.
- A support zone ranging from 61.83 to 62.25. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 60.12 to 60.24. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 56.87 to 57.11. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @50.53 from a trend line in the daily time frame.
- Support @45.38 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 62.34 to 62.34. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | NEUTRAL | NEUTRAL | The long term trend for NVO is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for NVO is up. |
| ChartMill Relative Strength | 25.86 | NEGATIVE | NVO has a low relative strength, it was outperformed by 74.14% 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) | 67.45 | NEUTRAL | The RSI value for NVO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.36 | POSITIVE | The MACD value suggests NVO has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 84.84 | OVERBOUGHT | The high Stochastics value suggests NVO may be overbought. |
| Average True Range in percent/ATR (20) | 3.41 | MEDIUM VOLATILITY | The ATR as a percentage value for NVO suggests some volalility. |
| Average Directional Index/ADX (14) | 35.2 | 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 | 61.82 | 0.53 (0.85%) | 25.00% |
| An entry @62.35. This is a Buy Stop order right above the resistance zone. | An exit @61.82. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.53 points, which is 0.85%. | For a 0.21% total portfolio risk, you can invest 25.00% 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.
62.26
+0.03 (+0.05%)
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 6 / 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 Bearish.
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 67.4512. 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 62.25 and a resistance level at 62.34. Check the full technical report for our detailed analysis of NVO support and resistance levels.