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Novo Nordisk Crosses Above its 10-day MA (NVO)

By David Diaz

Novo Nordisk (NYSE:NVO) crossed over its 10-day moving average of $47.04 on a volume of 1.1 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Novo Nordisk share prices have been bracketed by a low of $45.80 and a high of $60.34 and are now at $47.57, 4% above that low price. The 200-day and 50-day moving averages have moved 0.15% lower and 0.45% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Novo Nordisk on August 5th, 2016 by issuing a Downtrend alert when the shares were trading at $49.59. Since that call, shares of Novo Nordisk have fallen 5.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses novo nordisk

Ticker(s): NVO