Novo Nordisk (NVO) – Oversold Reversal + Earnings CatalystNovo Nordisk (NVO) has declined 61.13% from its all-time high of $148 (June 2024), finding support at $57.55. Over the past two weeks, the stock has rebounded over 15%, currently trading around $66.30, with strong reversal signals just ahead of earnings.
This setup presents a compelling opportunity, both technically and fundamentally, for a tactical trade or a longer-term position.
Simply Wall St
🔍 Technical Highlights:
✅ Rebound from long-term ascending trendline (~$57–58 zone)
✅ RSI rising from oversold levels (28 → 32 and climbing)
✅ MACD approaching a bullish crossover, indicating momentum shift
✅ Two consecutive green weekly Heikin Ashi candles post-bottom
✅ Defined risk with invalidation below $57 support
📈 Trade Setup:
🟢 Entry Zone: $66–68 (current price range)
🔴 Stop Loss: Below $57.00 (break of structure and breakout base)
MarketWatch
+6
StockAnalysis
+6
Simply Wall St
+6
✅ TP1: $78 – previous support zone
✅ TP2: $90 – February 2025 high before the selloff
✅ TP3: $110 – around December 2024’s local top
🗓️ Earnings – May 7, 2025
🔹 Analysts project ~19.7% YoY revenue growth
🔹 Continued strong demand for Ozempic and Wegovy
🔹 Forward P/E ratio at 16.33, below industry average
🔹 Robust margins and high institutional ownership
🔹 Significant free cash flow and a promising innovation pipeline
StockAnalysis
📌 This appears to be a high-quality oversold bounce with a well-defined risk/reward structure ahead of a significant earnings catalyst. Whether you're considering a swing trade or building a core position, this setup aligns both technical and fundamental factors.
Let’s monitor how this unfolds. 📊🔬
Disclaimer: This is not financial advice – just sharing my perspective. Please conduct your own research before making investment decisions.
