My post is primarily a technical analysis. It is important you understand a technical analysis is a forecast and has a probability, and not a statement that it will be absolutely certain.
Fundamental analysts (25) have on Trading View a price target of 1020. There is a wide spread, but most are positive about the stock.
Novo is still in an ascending trend as...
Positive: The company is has a fast growing revenue and 30% increase in order intake. The stock has slowed down near key support level i.e. 50 SMA
Negative : No sign of EBIT improvement just yet.
Possible chance of breakout. Set your alerts
Observation: The stock usually breaks out after yearly consolidation. The stock is in own universe and uncorrelated with market moves.
Positive : The company has revised its revenue guidance twice.
Negative: Very low liquidity stock
The stock is in its own universe i.e. un correlated with market.
Fundamentally the company has manageable debt, sufficient EBIT, decent PE and bright future.
Technically it shows the end of downtrend, confirmation of the same and VCP.
It is highly illiquid, hence aim to quickly get in and get out.
Possibility to go long if it takes out high from the latest...
Coming off the bear market rally the stock has corrected 50% while the broad market corrected 29%.
End of downtrend confirmation.
Possibility to go long if tennis ball action persists during pull back.
The stock is in a declining trend channel. It appears scroll. of the long moving averages and charts.
Looking back, there will be a support around 480 (5 year chart).
RSI 21 and OBV have gone up and then flattened out somewhat when you look at the last 40 days.
The last week some hammer candlestick pointing down.
MA and oscillators stand one month on neutral....