NVO Technical Analysis - NOVO-NORDISK A/S-SPONS ADR

Technical Rating and Analysis

Overall NVO gets a technical rating of 0 out of 10. NVO's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.

When comparing the yearly performance of all stocks, NVO is a bad performer in the overall market: 95% of all stocks are doing better.

NVO is one of the lesser performing stocks in the Pharmaceuticals industry. 78% of 196 stocks in the same industry do better.

NVO is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.

NVO has an average volume of 19409500 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

In the last month NVO has a been trading in the 52.72 - 62.32 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

NOVO-NORDISK A/S-SPONS ADR / NVO Weekly stock chart

NOVO-NORDISK A/S-SPONS ADR / NVO Daily stock chart

Setup Rating and Analysis

The technical rating of NVO is bad and it also does not present a quality setup at the moment. Prices have been extended to the downside lately. For a nice entry it is better to wait for a consolidation.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

53.73

81.79

We found 1 important support area.

Support @54.27 from a horizontal line in the daily time frame.

When analyzing the resistance we notice 5 important areas.

Resistance @60.42 from a trend line in the daily time frame.
A resistance zone ranging from 61.41 to 61.86. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @69.01 from a trend line in the weekly time frame.
Resistance @71.55 from a trend line in the daily time frame.
Resistance @80.98 from a horizontal line in the daily time frame.

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Technical Indicator Signal Analysis

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	DOWN	NEGATIVE	The long term trend for NVO is down.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for NVO is neutral.
ChartMill Relative Strength	5.31	NEGATIVE	NVO has a low relative strength, it was outperformed by 94.69% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of NVO is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of NVO is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of NVO is below a declining SMA(200).
Relative Strength Index/RSI (14)	46.12	NEUTRAL	The RSI value for NVO is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.25	POSITIVE	The MACD value suggests NVO has a positive trend, although the MACD value is declining.
Stochastics (14,3)	56.11	NEUTRAL	The Stochastics value for NVO is a neutral value.
Average True Range in percent/ATR (20)	2.9	MEDIUM VOLATILITY	The ATR as a percentage value for NVO suggests some volalility.
Average Directional Index/ADX (14)	16.11	NEGATIVE	The low ADX value for NVO suggests a weak or negative trend.