I am not too keen on the company, but from a pure chartist perspective, I am taking a long position at 2.25 with an initial target at the 0.618 Fib, $2.93.
Strong support and ratio confluence, hoping the $2.25 serves as a strong enough base to send price back towards $3.43
I am liking the 1.618 entry with a target at the 0.786 level, retracing to the 0.90315 area. A conservative target for partial positional removal is near the 0.382 at 0.89011. The divergence on the RSI is a nice nod as well.
This is more of a personal play as I have been long since the stock was trading below $3.00. There is a strong possibility this recent test of support, just below the $27.00 level, initiates the continuation of the price climb.
NVO has been behaving nicely with various setups. A strong short opportunity will likely present itself early next week. Assuming the short opportunity goes in our favor, we can expect to reverse positions with $2.50-$3.00 in profit. I am long term bullish on this stock with targets at $33 and $37 after this ...