NVO Price Prediction Next Week
Technical Analysis:
Based on the latest price data, NVO closed at $87.97 on January 24, 2025, with a significant surge of +8.47% during regular market hours. The stock showed strong momentum with high trading volume of 27.09M shares.
The RSI-14 reading of 48.75 indicates the stock is in neutral territory, neither overbought nor oversold. The MACD at -4.44 suggests some bearish momentum in the short term, but this could be changing given the recent price surge.
News Sentiment Analysis:
Recent positive catalysts include:
- Strong clinical trial results for amycretin weight loss drug showing 9.7% average body weight reduction over 36 weeks with only mild to moderate side effects
- The stock surged 7.13% on January 25 following these trial results
- Continued strong performance in obesity drug market with Wegovy and Ozempic
Price Prediction for Next Week:
Based on Fibonacci levels:
- Support levels: S1: $79.12, S2: $76.33
- Resistance levels: R1: $88.13, R2: $90.92
- Pivot point: $83.63
Expected price movement scenarios:
- Bullish case (60% probability): Stock could test R1 at $88.13 and potentially reach R2 at $90.92 if positive momentum from clinical trial results continues
- Bearish case (30% probability): Pullback to S1 at $79.12 after recent sharp rally
- Neutral case (10% probability): Consolidation between $83-88 range
Trading Recommendation:
BUY with entry point at current price ($87.97) or better on any pullback to $85-86 range.
- Set stop loss at $83.63 (pivot point)
- First target: $90.92 (R2)
- Second target: $95.43 (R3)
Rationale:
- Strong fundamental catalyst with positive clinical trial results
- High trading volume supporting the upward move
- Clear technical breakout above previous resistance levels
- Leading position in growing obesity drug market
NVO Similar Chart Price Prediction
The price of NVO is predicted to go up 40.96%, based on the high correlation periods with GSM. The similarity of these two price pattern on the periods is 98.7%.
NVO
GSM
Up: 40.96%Similarity: 98.7%
NVO Stock Forecast & Prediction For Years 2025, 2026, 2027, 2028, 2029 and 2030
Year
NVO Price Forecast($)
Potential Return(%)
2025
87.250
-0.460
2026
120.000
36.910
2027
120.000
36.910
2028
140.000
59.730
2029
140.000
64.650
2030
150.000
76.410
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NVO Revenue Forecast
NVO EPS Forecast
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NVO VS S&P500
Novo's new obesity therapy Wegovy is significantly expanding the obesity treatment market given its strong efficacy and is poised to remain a key drug in the market until patent expiration in 2032.
With a solid portfolio of GLP-1 products, including injectable Ozempic and oral Rybelsus, Novo is well positioned to defend its formidable diabetes market share.
Semaglutide is also being studied in areas including liver disease (NASH) and Alzheimer's, and Novo could achieve a strong share in these nascent markets.
NVO Analyst's Forecast
Evan David Seigerman
BMO Capital
Buy
Price Target
$160 → $156
Upside
+31.93%
BMO Capital analyst Evan Seigerman lowered the firm's price target on Novo Nordisk to $156 from $160 and keeps an Outperform rating on the shares as part of a broader research note previewing Q3 results in BioPharma. Looking at script growth for Ozempic and Wegovy from Q2, the firm sees 4% and 24% growth, respectively, but while growth continues to be impressive, sell-side estimates may now be catching up to this growth, the analyst tells investors in a research note. Novo's Victoza scripts have declined nearly 50% from Q2 however as patients and providers transition to more efficacious agents Mounjaro / Ozempic, the firm added.