Shawn’s Trade Idea: Buy NOVO Nordisk ADR (NVO US) increase limit to $US50.50

Novo Nordisk (NVO US) is 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 missed out last night by just 8c, but are happy to buy the strength:

• We still see great risk/reward towards NVO below $US50.50 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.