Novo Nordisk is emerging from a textbook volatility compression pattern (VCP) - the setup made famous by Mark Minervini. Notice the series of progressively shallower pullbacks from left to right as supply has been absorbed by buyers.
NVO is a market-leading stock by all accounts. Shares are up 75% over the last twelve months with no signs of slowing down. This is largely thanks to its new weight loss drug showing tremendous results in clinical trials.
The company has also experience accelerating earnings growth for the last several quarters - another favorite quality of Minervini's for identifying top performers.
NVO looks buyable here as a swing trade with a stop loss 9-10% below the current price.
NVO is a market-leading stock by all accounts. Shares are up 75% over the last twelve months with no signs of slowing down. This is largely thanks to its new weight loss drug showing tremendous results in clinical trials.
The company has also experience accelerating earnings growth for the last several quarters - another favorite quality of Minervini's for identifying top performers.
NVO looks buyable here as a swing trade with a stop loss 9-10% below the current price.