$NVO - WATCHLIST -
Added 2025-05-20 11:59:01 +0000 UTCTextbook is not a good enough word for this.
Beautiful is more appropriate.
$NVO I believe is slightly ahead of $UNH but it is guiding the way and we are looking at calling Wave 2 complete here next.
A very clear breakout of the bullish descending wedge, after holding support on the 0.5 Fib at $63, where we added at the end of last week.
Price is also up in the PM now and testing the 50 Day MA exactly at $68.
So what we want to see next is:
A hold above the 50 Day MA at $68.20 and
A higher high next above the Wave 1 top at $69.85
This will therefore confirm the trend and that we are into Wave 3, with a target at $83.
I have 3 Buys in already and will add again once we make a higher high.
Comments
Looks like this is the retracement to the 0.618 we were waiting for since late 2016...
Magopool
2025-05-21 13:52:11 +0000 UTCI reviewed the valuation analysis posted yesterday, which set a price target of $73.2. Does this imply the stock is overvalued above this level, and should we consider trimming positions based on the various upside targets outlined in the chart?
CT
2025-05-20 12:45:09 +0000 UTC
