$NVO - WATCHLIST -
Added 2025-05-23 09:24:39 +0000 UTCI would hope that our members did not get caught up in the flush down at the open yesterday to $66, for the price action to recover and end the day flat.
We can see on the chart that it was a simple test of the 50 Day MA as a support level.
The 50 Day MA has been a resistance level since August '24, so breaking out and holding above the 50 Day will be a strong reversal signal and this is what we believe can happen.
So the plan remains the same here:
A break and hold above the previous high at $70, means a hold above the 50 Day MA too and this is another Buy Signal to catch the strong move higher for Wave 3 to $83.
Price is already at $69 in the PM.
Comments
One thing I have learnt here: don’t do anything before checking charts, updates, announcements, alerts, TLI’s comments on what’s going on. 90% of the time what he sees is different than what I would expect or do.
Federico Salerno
2025-05-23 09:48:24 +0000 UTC
