Novo Nordisk is currently experiencing one of the largest drawdowns in its history, primarily triggered by a downward revision of guidance for FY25 and FY26.
Focusing strictly on technical analysis:
In addition, the latest twelve months (LTM) P/E has compressed to 13.8x, representing its lowest multiple in over two decades.
In the context of a highly valued broader market, Novo Nordisk is now trading at what can be considered a fair level from a purely technical perspective.
Focusing strictly on technical analysis:
- For the first time, the monthly 200 EMA is serving as a key support level for Novo Nordisk - an area the stock has never approached in its previous history.
- The long-term trendline, originating in 1989 and successfully tested three times since 1995, remains intact and is being approached once again.
- Both support levels - the monthly 200 EMA and the long-term trendline from 1989 - are now converging in the same price area.
In addition, the latest twelve months (LTM) P/E has compressed to 13.8x, representing its lowest multiple in over two decades.
In the context of a highly valued broader market, Novo Nordisk is now trading at what can be considered a fair level from a purely technical perspective.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.