We believe after the major downside re-rating of Novo Nordisk (NVO US) is in the rearview mirror and NVO is poised for a strong recovery. After increasing our bid price we have been filled, we will re-evaluate the stop in the coming days.
- Long NOVO Nordisk ADR (NVO US) at $US50.50 with stops at $US43.
Elsewhere we have two open positions:
- Long Domino’s Pizza (DMP) at $20.90 with stops at $21.50.
- Long Sandfire Resources (SFR) at $15.20 with stops at $16.47.
Also, we have two open bids:
- Buy Catapult Sports Ltd (CAT) at $4.04 with initial stops at $3.60 – 11% risk.
- Buy Life360 (360) at $35 on stop now its broken below $34.
Trade Idea: MM is long NOVO Nordisk ADR (NVO US) at $US50.50 with stops at $US43.
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