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Technical Assessment: Neutral in the Intermediate-Term

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Novo Nordisk A/S (NVO) Stock Forecasts

AllTechnical Analysis

Argus•December 28, 2023

Intermediate Term

Long Term

Summary

The S&P 100 (OEX 2,242) printed a closing all-time high (ATH) on December 18, breaking slightly above the prior high from January 3, 2022, of 2,219.44. The OEX suffered a decline of 27% during its 2022 bear market that ended on October 12, 2022. Since the bear market low, the index has leaped almost 39%. The OEX is rebalanced four times a year and consists of the 100 largest stocks within the S&P 500 universe.

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