Shawn’s Trade Idea: Buy NOVO Nordisk ADR (NVO US) limit $US49.50

We are looking to buy Novo Nordisk the global leader in diabetes care and the dominant player in the fast-growing obesity-drug market through its well-known Ozempic/Wegovy names. We believe after the major re-rating on the downside is over and NVO is poised for a strong rally.

• We see great risk/reward towards NVO below $US49.50 with initial stops at $US43.

There is no change to our existing positions:

• Long Sandfire Resources (SFR) at $15.20, with stops at $15.80, a profit stop.
• Long Domino’s Pizza (DMP) at $21.50, with stops at $19.90.