As of March 25, 2026, NVO (Novo Nordisk A/S Sponsored ADR) is in a falling knife state on the weekly chart, with a confidence level of 78%. Key support is at $35.0 and key resistance at $48.0. Weekly price at ~$36.89 printing fresh LLs with weak bounces; price far below falling EMA50/EMA100 and below all major SMAs/EMAs (RSI14 ~34).
Bearish continuation: brief oversold bounce into the ~$44-$48 supply zone, then rejection and another leg down to retest/undercut lows; aligns with an Elliott Wave impulse still in wave (5) / late-stage C where sellers remain in control.
Bottoming attempt: holds ~$35 support and forms a higher low, then breaks above the last swing-high area; this would suggest wave (5) / C is ending and a corrective A-B-C up begins toward major moving-average resistance.
Weekly close below $36.00 (continuation breakdown).
Weekly close back above $47.50 (reclaim of prior breakdown area and first meaningful trend change attempt).
Scaling only at/under current lows: $33-$36 is first support test; $29-$32 is next Fibonacci extension/psych support; $24-$28 is deeper capitulation zone if wave (5)/C extends.
Trim into likely MA supply: $56-$64 near prior consolidation/short-term MA magnet; $70-$84 near EMA100/EMA200/SMA100 cluster; $95-$120 approaches long-term SMA200/major breakdown region where multi-year mean reversion often stalls.
As of March 25, 2026, NVO (Novo Nordisk A/S Sponsored ADR) is in a falling knife state on the weekly chart with 78% confidence. Weekly price at ~$36.89 printing fresh LLs with weak bounces; price far below falling EMA50/EMA100 and below all major SMAs/EMAs (RSI14 ~34).
On the weekly timeframe, NVO has key support at $35.0 and key resistance at $48.0. The most likely scenario (bearish) targets $34.0 and $28.0, with a revert level at $45.0.
NVO (Novo Nordisk A/S Sponsored ADR) is currently classified as falling knife on the weekly chart, with 78% confidence. Confirmation requires: Weekly close below $36.00 (continuation breakdown). This would be invalidated by: Weekly close back above $47.50 (reclaim of prior breakdown area and first meaningful trend change attempt).
The most likely scenario (bearish) targets $34.0 and $28.0, with a revert level at $45.0. The alternative scenario (bullish) targets $48.0 and $56.0.
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