Danish pharmaceutical company Novo Nordisk managed to finish the last week of the previous consolidation and kanaltak. Together with the underlying positivity where ever more significant volume is noted in the upper part within the short-term handelsintervallet, signaling the outbreak from the previous focus that it is time for on the rise…
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Our previous analysis in april developed really nicely. We saw an increase to 280 Danish kroner, and after our inledningsvisa outbreak and the establishment of 265 sek, was reached this målkurs by far, with the support of the report.
Since the beginning of June, we have now got a clear focus and consolidation with underlying positivity.
Within this short-term handelsintervallet, we have noticed increasingly larger volume in the higher handelsintervallet, at the same time, we also got an outbreak out of this range, which helps with increased positivet.
Then two days back, we note also the conclusion of the plus, which further strengthens a positive view, then we are already on Thursday got an extra mobilization before the outbreak occurred.
Kanalgolvet in this handelsintervall are also 280, the price level in the past, we saw a rise to. This means that this technical support level is further enhanced, as we note significant volume here.
On Friday, also managed to Novo Nordisk note a new high for the year, which means that we believe that we can now leave earlier mobilization behind us, for a trip up to 307.5 crowns.
An attractive köpläge has thus occurred already in the current situation, at 294 dollars.
In the short term, it is expected the sentimental heltalsnivån 300 crowns with high probability to give a certain amount of resistance, at the same time as a short-term trigger for outbreaks are not completely unexpected, especially at such a significant price level.
If it against all odds would prove that what we are experiencing now is a fake outbreak, we recommend to place a stop loss already at 289.5 million, for the to limit any rebound.
Novo Nordisk is trading a good bit above our medeltalstrio in the form of MA 50, 100 and 200, since the large outbreak occurred over 265 sek in the beginning of may.
The stock is traded on Copenhagen, under the symbol ” NOVO B.
Large Cap Copenhagen
P/E est. 2017