NOVO_B Bearish


Right before Q1 Novo_B is displaying, for medium term, further bearish trend . Take note of the bullish divergence that could bring the best scenario for the Q1 day- the level of 315 kr . The monthly and weekly charts are bearish and probably further downside action. As for the harmonic patterns I am looking for an ABC bearish pattern where the swing BC will end on around 224 kr level or so (notes on chart). The breaking of the macro support trend line is something to watch closely.
Comment: A short rectification for the above published chart: the level 225 ish should be disregarded at this point in time.
Instead the level 265ish should be noticed as important. It is more appropriate for further downside or reversal.


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