Novo Nordisk A S stock trades under the ticker NVO & has shown recent bullishness that traders & investors should take a closer look into.
NVO stock closed at $106.57/share on 8/23/2022.
Novo Nordisk A S NVO Stock’s Technical Performance Broken Down
NVO Stock Price: $106.57
10 Day Moving Average: $106.06
50 Day Moving Average: $109.02
200 Day Moving Average: $107.21
RSI: 47.74
MACD: -1.361
Yesterday, NVO stock completed a bullish MACD crossover, while dropping -0.91% to settle in between its 10 & 200 Day Moving Averages.
Their recent trading volumes are above average compared to the year prior & their RSI is neutral, but that may not be enough to power them higher amid all of the broader market volatility in the coming week.
They have support at the $105.74 & $105.58-price levels, while they try to break out above the $106.89 & $107.34/share resistance levels.
Novo Nordisk A S NVO Stock As A Long-Term Investment
Long-term oriented investors may find NVO stock’s valuation metrics to be a bit higher than they’d like, with a 36.06 P/E (ttm) & a 24.2 P/B (mrq).
They recently reported 24.9% Quarterly Revenue Growth Y-o-Y, with 9.9% Quarterly Earnings Growth Y-o-Y.
Their balance sheet looks strong, with $31.04B in Total Cash (mrq) & $25.43B of Total Debt (mrq).
NVO stock pays a 1.49% dividend yield, which appears to be sustainable in the long-run, with a 46.51% payout ratio.
Only 8.68% of NVO stock’s outstanding share float is owned by institutional investors.
Novo Nordisk A S NVO Stock As A Short-Term Trade Using Options
Short-term focused traders can use options to profit from NVO stock’s price movements, while hedging against broader market volatility.
I am looking at the contracts with the 9/16 expiration date.
The $105, $92.50 & $100 call options are all in-the-money, listed from highest to lowest level of open interest.
The $95, $97.50 & $100 puts are also in-the-money, with the former being more liquid than the latter two strike prices.
Tying It All Together
NOV stock offers many interesting characteristics for traders & investors.
Investors will like their balance sheet & dividend yield, but may find their valuation metrics to be a bit too high.
Traders will like their current technical set up, as well as the liquidity of their options.
Overall, it is worth taking a closer look into NOV stock to see how it fits into your portfolio strategy.
*** I DO NOT OWN SHARES OF NVO STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***