Fundamentals: An insulin and diabetes drug care company based in Denmark. Booming fundamentals, booming funds, great cashflow, stable earnings and accelerating sales. Pays a little dividend.
Technicals: Shallow pb uHd extreme indicator 34%-50% pb a-b-c pb completion horizonal support kijun bounce strong volume today at support
Outlook: Expected to hold for 8 to 12 months. Expected to double in price within 8 months. Target 260 within 12 months.
Commento
⋅
NVO giving us a healthy retracement right at the beginning of Q2 an NFP Friday. This might be the fourth week of negative retracement into longer-term support. If the price closes below 125, then there is potential for a weekly shallow pb trade. Besides this, I watch and wait and sit on my hands and let the market and history play out.
Commento
⋅
uHd and triangle breakout
Commento
⋅
Weekly hidden bullish divergence with an engulfing bullish candlestick at 38% fib support. NVO looks good on this weekly chart and set to rise in the coming weeks. Target is still 260 within 12 months.
Any opinion on increasing market competition over the 8-12 month time frame?
Rocketman
⋅
@Marcusgator, For now, no. Just watching the overall market sentiment and waiting for things to play out technically before US elections in November. But, if the overall market goes flat before the elections, then I expect a sharp rise in the overall market AFTER the elections just like what happened in the previous two elections. So, I am giving the market a little leeway. The weekly chart of NVO looks good.