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The Long Investor - $NVO - TOP 10 -
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The Long Investor - $ETH - TOP 10 -
About This Title
$NVO is performing very well, and if you’re invested here, you should be happy with how the price has behaved.
Typically, we look for Wave 2 to find support at the 0.618 Fib but sometimes, a deeper pullback and more consolidation are needed before support is confirmed, which is what we’re seeing here.
The price pulled back to the 0.887 Fib at $37 and has since spent four weeks testing consolidating and battling with the 0.78 Fib around $38.
Now we want to see the price hold above $38 and begin Wave 3, and remember the longer the consolidation, the stronger the breakout.
Once the price start to break out, we want to see the 50 WMA at $45 flipped to support, bringing $NVO into the Bull Case.
Longer term there are no changes and the Wave 3 target remains at the 1.618 Fib at $65.
$NVO is performing very well, and if you’re invested here, you should be happy with how the price has behaved.
Typically, we look for Wave 2 to find support at the 0.618 Fib but sometimes, a deeper pullback and more consolidation are needed before support is confirmed, which is what we’re seeing here.
The price pulled back to the 0.887 Fib at $37 and has since spent four weeks testing consolidating and battling with the 0.78 Fib around $38.
Now we want to see the price hold above $38 and begin Wave 3, and remember the longer the consolidation, the stronger the breakout.
Once the price start to break out, we want to see the 50 WMA at $45 flipped to support, bringing $NVO into the Bull Case.
Longer term there are no changes and the Wave 3 target remains at the 1.618 Fib at $65.
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