Revising the head and shoulders pattern on NOVO
Since my previous analysis on Novo Nordisk 
NOVO_B , the price has nearly reached the original target of 700.
https://www.tradingview.com/chart/NOVO_B/NTWlAtN8-Novo-Nordisk-could-be-dropping-15-from-here/
However, I have made slight adjustments to the head and shoulders pattern, which has consequently led to a revised target at the value area low of the range from late 2023 at around 670.
At this point, I would not consider this an ideal time to initiate a short position onNOVO_B . Instead, it appears to be more of a profit-taking opportunity for those who entered short positions near the levels indicated in my earlier post.
NOVO_B , the price has nearly reached the original target of 700. https://www.tradingview.com/chart/NOVO_B/NTWlAtN8-Novo-Nordisk-could-be-dropping-15-from-here/
However, I have made slight adjustments to the head and shoulders pattern, which has consequently led to a revised target at the value area low of the range from late 2023 at around 670.
At this point, I would not consider this an ideal time to initiate a short position on
NOVO_B . Instead, it appears to be more of a profit-taking opportunity for those who entered short positions near the levels indicated in my earlier post.
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