Novo Nordisk seems to be bouncing a third time from support at around 1,060. Twice in past two days.
RSI is still showing positive sentiment but with divergence. RSI has formed a falling Wedge like pattern and if breaking bullish out it could be first indication that Novo is to resume uptrend.
However, a share price close above 1,130 is needed to confirm uptrend.
A close below 1,060 is likely to fuel a sell-off down to 1,015-965,50 and the 200 daily Moving Average.
If closing below 1,060 RSI is likely to close below 40 threshold thereby confirming the negative sentiment.
Medium-term lower rising trendline is being tested. A close below could be an indication that the medium-term uptrend is in for a correction
Weekly chart is showing divergence indicating a looming correction.
However, if Novo closes above 1,130 and if RSI closes above 60 threshold, Novo is likely to make a new all-time high.