NVO: Weekly Falling Wedge Lines Up With Key FVGNovo Nordisk A/S Sponsored ADR Class BBATS:NVOTaxpayerTradesNovo Nordisk (NVO) is basing after an extreme drawdown — the stock ran from ~$40 to ~$150 through 2024, then gave nearly all of it back in a sharp decline back to the low $40s on GLP-1 competition and trial-data pressure. Price just printed an +11.30% weekly reversal candle, closing at 48.07, and the pattern detector has flagged the recovery structure off the bottom as a Bullish Pennant. Setup — Weekly Bullish Pennant Entry: 49.96 Stop: 24.83 Target: 150.49 Risk:Reward: ~4R R:R Quality: 80% | Pivot Depth: 100% | 26 bars since the pennant break Price is sitting just under the 49.96 trigger after this week's reversal candle — not yet confirmed above the entry line. Momentum The custom ML RSI is climbing out of the high-30s/low-40s zone with a rising trendline under the recent lows, supporting the base-building thesis alongside price. Invalidation A weekly close back below the 24.83 stop invalidates the pennant thesis and would suggest the downtrend is resuming rather than basing. Bias Bullish above 49.96 confirmation, targeting a measured move back toward 150.49. This is a multi-month, high R:R swing setup — not a quick trade. This is technical analysis for educational purposes, not financial advice. Do your own research and manage risk accordingly.