So normally most people mean the following by floor:
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Technical basis:
1. search for the app where candles are displayed (Tradgingview)
2. select the stock exchange with the highest volume (at the top of the search in Tradingview)
)
1. at least look at the daily chart, better weekly (one candle = one daily trend/one weekly trend)
2. there is no direct mathematical expression, but if the price has fallen and you have reached the lowest point on the screen, the candles must have held a level several times (min. 2 times, better 3 times). This is definitely not the case with Novo Nordisk.
Novo Nordisk: https://www.tradingview.com/x/WxKeOLzM/
no bottom.
A "bottom" is interesting, but a better indicator is when the price "bounces back" directly from a point.
Otherwise, a persistent price does not necessarily mean that the trend is reversing. It can also simply continue to fall.
So really bullish:
Example Carnival: https://www.tradingview.com/x/0BpxUTCI/
1. up volume (price is bought up again)
2. then a high above the last high
3. possible entry below in green box indicated by the last bearish candle in the previous move.
4. runs.
This is then a trend change from point 2). I would orientate myself more towards that, after that the talk of a bottom makes sense. before that it is nothing half and not whole.
Novo would therefore be relevant for me from here onwards if the price moves above this level (positive trend):
https://www.tradingview.com/x/XzQLe8R8/
and until then it is really interesting:
https://www.tradingview.com/x/o4TAKnd7/
(
Technical basis:
1. search for the app where candles are displayed (Tradgingview)
2. select the stock exchange with the highest volume (at the top of the search in Tradingview)
)
1. at least look at the daily chart, better weekly (one candle = one daily trend/one weekly trend)
2. there is no direct mathematical expression, but if the price has fallen and you have reached the lowest point on the screen, the candles must have held a level several times (min. 2 times, better 3 times). This is definitely not the case with Novo Nordisk.
Novo Nordisk: https://www.tradingview.com/x/WxKeOLzM/
no bottom.
A "bottom" is interesting, but a better indicator is when the price "bounces back" directly from a point.
Otherwise, a persistent price does not necessarily mean that the trend is reversing. It can also simply continue to fall.
So really bullish:
Example Carnival: https://www.tradingview.com/x/0BpxUTCI/
1. up volume (price is bought up again)
2. then a high above the last high
3. possible entry below in green box indicated by the last bearish candle in the previous move.
4. runs.
This is then a trend change from point 2). I would orientate myself more towards that, after that the talk of a bottom makes sense. before that it is nothing half and not whole.
Novo would therefore be relevant for me from here onwards if the price moves above this level (positive trend):
https://www.tradingview.com/x/XzQLe8R8/
and until then it is really interesting:
https://www.tradingview.com/x/o4TAKnd7/
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Thank you for the detailed answer.
What indicators do you value? "If the ground doesn't do anything" 😉
What indicators do you value? "If the ground doesn't do anything" 😉
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@Pazi3 adjusted the comment a bit :)
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Very interesting, thank you very much 👍🏻
But wouldn't it be better to evaluate NovoNordisk's share price in its home currency, the krona? I think it actually looks quite good from your point of view. The price is oscillating around the EMA 200 on the weekly chart and has formed 3 higher lows almost exactly on the SMA 200. A rise above 635 kronor (which is also the EMA 50 on the daily chart) would be a good signal in my opinion.
But wouldn't it be better to evaluate NovoNordisk's share price in its home currency, the krona? I think it actually looks quite good from your point of view. The price is oscillating around the EMA 200 on the weekly chart and has formed 3 higher lows almost exactly on the SMA 200. A rise above 635 kronor (which is also the EMA 50 on the daily chart) would be a good signal in my opinion.
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@ChrisBizz 1. the Danish stock exchange is not the one through which most American institutional investors buy. Chart movements are therefore not as accurate.
2. the average volume here is 5 M, in America 10 MIo
the larger volume is always the more relevant
3. one is the B share and the other the A share, I am not familiar with the asset now, I only read that from the name.
2. the average volume here is 5 M, in America 10 MIo
the larger volume is always the more relevant
3. one is the B share and the other the A share, I am not familiar with the asset now, I only read that from the name.
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