Yes, NVO has pulled back hard — from highs near $148 to the mid-$60s, now trading around $68.33. While this selloff may look oversold on many levels, I’m still avoiding the stock for now.
The broader market remains in a downtrend, and with macro uncertainty still front and center, I’m not eager to jump in prematurely.
That said, I’ve highlighted a longer-term buy zone on the chart, with the upper band near $59.88 and the lower edge around $46.20. It’s a wide range, but it sits within a well-defined rectangular support area that I’d be comfortable scaling into — likely in tiered buys if we get there.
No rush here. Watching and waiting.
The broader market remains in a downtrend, and with macro uncertainty still front and center, I’m not eager to jump in prematurely.
That said, I’ve highlighted a longer-term buy zone on the chart, with the upper band near $59.88 and the lower edge around $46.20. It’s a wide range, but it sits within a well-defined rectangular support area that I’d be comfortable scaling into — likely in tiered buys if we get there.
No rush here. Watching and waiting.
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Disclaimer
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.