Novo Nordisk (NYSE: NVO): Trading Idea for 13/10/2023Pharmaceutical company Novo Nordisk completed its research into the treatment of kidney disease a year ahead of schedule. However, the results will only be published in early 2024. If the company demonstrates convincing positive results, Novo Nordisk's revenue growth prospects will be strong.
Today, our focus is on the Novo Nordisk (NYSE: NVO) stock chart.
On the D1 timeframe, support has formed at 90.44, with resistance at 93.03, which was broken through on Wednesday 11 October. Quotes surged to their historical maximums.
On the H1 timeframe, the short-term target for the price increase is around 110.55, while in the medium term, it could reach 115.30.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.