Novo Nordisk A/S (NVO) Stock Forecasts

Summary

Once again, the iShares 20+ Year Treasury Bond (TLT) is at an interesting juncture. We said the same thing last month when TLT was testing the bottom of the channel as well as 61.8% retracement — and the market then turned higher. TLT is now at the top of the bearish channel as well as the 50-day exponential moving average. Price has stayed within the channel for most of 2024. A strong move over $92 would break the channel and open the door for a path to the $94-$96 region, which is chart resistance as well as a 61.6% retracement of the decline since December. We have seen a few days of heavy volume during price strength, which is a bullish sign. In addition, the daily moving-aver