Is $NVO ready to push higher on the right side of its base?
Notes:
* Very strong up trend on all time frames
* Great earnings
* Pays out dividends
* Forming a base for the past ~8 months
* Testing the 50 day line as support for the past 4 sessions
* Bouncing off the 50 day line with higher than average volume and printed a pocket pivot
Technicals:
Sector: Healthcare - Drug Manufacturers - General
Relative Strength vs. Sector: 1.62
Relative Strength vs. SP500: 1.24
U/D Ratio: 1.02
Base Depth: 18.33%
Distance from breakout buy point: -8.94%
Volume 44.56% above its 15 day avg.
Trade Idea:
* You can enter now as the price is just bouncing off of its 50 day line with tonnes of volume
* If you're looking for a better entry you might find one around the 110.5 area
* This stock usually has local tops when the price closes around 14.27% above its 50 EMA
* Consider selling into strength if the price closes 14.07% to 14.47% (or higher) above its 50 EMA
* The last closing price is 1.57% away from its 50 EMA
* Very strong up trend on all time frames
* Great earnings
* Pays out dividends
* Forming a base for the past ~8 months
* Testing the 50 day line as support for the past 4 sessions
* Bouncing off the 50 day line with higher than average volume and printed a pocket pivot
Technicals:
Sector: Healthcare - Drug Manufacturers - General
Relative Strength vs. Sector: 1.62
Relative Strength vs. SP500: 1.24
U/D Ratio: 1.02
Base Depth: 18.33%
Distance from breakout buy point: -8.94%
Volume 44.56% above its 15 day avg.
Trade Idea:
* You can enter now as the price is just bouncing off of its 50 day line with tonnes of volume
* If you're looking for a better entry you might find one around the 110.5 area
* This stock usually has local tops when the price closes around 14.27% above its 50 EMA
* Consider selling into strength if the price closes 14.07% to 14.47% (or higher) above its 50 EMA
* The last closing price is 1.57% away from its 50 EMA