Novo Nordisk's Death Cross: Is A Turnaround Coming For The Ozempic, Wegovy Maker?
Novo Nordisk(NVO) Benzinga·2024-10-24 00:41
Novo Nordisk A/S NVO just hit a technical red flag — a Death Cross. Chart created using Benzinga ProFor those uninitiated, this bearish signal occurs when a stock's 50-day moving average drops below its 200-day moving average, hinting that more downside could be ahead. However, Novo Nordisk's future might not be as grim as this technical omen suggests. Let's dig into the numbers and explore whether there's a silver lining for investors in this pharma heavyweight.Bearish Signals Dominate, But Buying Pressure ...