$NVO giving another entry opportunity before moving higher?

NYSE:NVO   Novo Nordisk A/S
* Good earnings
* Very strong up trend in the long term
* Broke out of a ~4month base and now retested it as support
* Sector: Healthcare - Drug Manufacturers - General
* Relative Strength vs. Sector: 8.35
* Relative Strength vs. SP500: 2.56
* U/D Ratio: 2.21
* Base Depth: 26.05%
* Distance from breakout buy point: 1.01%
* Volume 145.18% above its 15 day average.

Trade Idea:
* Given the amount of volume that came in around $116.55, it seems like there's quite a bit of demand for this stock around this price.
* You can look to enter now as the price is very close to the broken base
* The U/D ratio indicates that the stock's under accumulation
* If you're looking for a better entry you can look to enter around $115.16


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.