Novo Nordisk Long-Term Bullish Trend Broken
Novo Nordisk (NVO) has seen its long-term bullish trend broken, with the stock losing 49% since its highs. It’s now trying to find support. On Friday, the stock rebounded from the major support zone between 504-535. The stock will likely be volatile in the coming days, so keep an eye on this support zone to see if it has found a low. Source: Bloomberg
Idexx Laboratories Rebounding Off Major Swing Support Zone
Idexx Laboratories (IDXX US) recently tested the swing support zone between 372-431 and is now rebounding off that level with increasing volume. Source: Bloomberg
Roche Back on Demand Level
After a 47% consolidation over 2 years, Roche (ROG SW) broke its downtrend in June and has seen a 35% rally since the lows, suggesting that the low is now in place. The market is now back in the demand zone between 238-251, and we’re observing strong price action. The next key resistance to watch is 293.55. Source: Bloomberg
Swisscom Back on Demand Zone
Swisscom (SCMN SW) recently posted a strong swing, suggesting that the May consolidation could be over. Keep an eye on the demand zone between 486.80-505 for potential price action. Source: Bloomberg
Deere breakout ???
Deere & Company (DE US) has been attempting to surpass the $450 level for over two years. Recently, significant trading volumes have been observed, indicating a potential breakout. It's advisable to monitor this development closely. Source: Bloomberg
L'Oréal Rebounding off Major Support
L'Oréal (OR FP) showed strong signs of a rebound last week with a Hammer candlestick pattern. The stock tested the major swing support zone between 300-328 and has seen a 31% consolidation since June! Source: Bloomberg
Chocoladefabriken Lindt & Spungli in a Massive Triangle for 32 Months
Chocoladefabriken Lindt & Spungli (LISP SW) has been in a long-term triangle pattern since March 2022. Currently, there are no signs of a breakout in either direction. The range is now 9880-11330, and the price is currently at the lower band. Keep an eye on the market for potential developments. Source: Bloomberg
Dax pullback finished ?
The DAX has experienced a pullback exceeding 4% since mid-October highs. Yesterday's Doji candlestick and liquidity grab suggest that the swing support at 18,911 may hold. Do you believe the pullback has concluded? Source: Bloomberg
