A defensive stock in a rising trend
Measured by value, Novo Nordisk is Northern Europe's largest business and headquartered in Bagsværd, Denmark.
It's a defensive stock that's done well. It is considered a bit of a weakness that they have the majority of their income on few products, but on the other hand they are good at what they are doing. There are some medicine companies that have spread too much and have had to give up some of what they have been doing.
This link provides a very good insight into the issue around Q2. It's in Danish.
app.marketingplatform.com
Price target: Trading View a year 860. Handelsbanken SE 3 years 925. Danske Bank 900.
This chart is YTD, but the trend lines are drawn after a longer chart 1Y.
Novo Nordisk is on a rising trend as evidenced by MA.
Volume supports the trend as price top respond to volume top and price bottom respond to volume bottom. On volume balance OVB rising 22 days back.
There was a dive after Q2 on August 4th, but the next day there are more people buying in than selling out on the first day.
RSI 21 slightly below 50.
Oscillators and MA stand on sell one day, neutral a week and buy a month.
Considers the stock technically positive for medium long time.
Disclaimer: I have a position in the stock.
Remember you need do your own research and assessment before buying and selling.
Sources: Trading View.
