$NVO - WATCHLIST -
Added 2025-05-05 11:19:57 +0000 UTCI have started a position in $NVO on Friday and bought at $68.
Remember we don't aim to buy the bottom, you can not confirm a bottom and the potential bottom here was at $57....and was not on any MA's or fib support levels.
Regaining the 0.618 Fib at $65 encouraged us to add and now we are looking for a second buy entry.
We are still in the first wave bounce here and I believe a test of the 50 Day MA at $73 could signal the end of the first wave and we will get a pull back for a higher low next, so I have added in the small green fibs.
We can see that the 0.5 GREEN FIB aligns perfectly with the larger amber 0.618 Fib at $65....so this will be our Buy Target for our Second Buy after a successful hold on this level.
Building an average under $70 to catch the move up to between $102 - $111 would give you a +50% return.
I am happy with that as the bearish scenario....because this could go a lot higher.
