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Watch These Novo Nordisk Stock Price Levels After Last Week's 33% Drop

1. Novo Nordisk's shares rose 2% after last week's significant decline. 2. The company cut its full-year outlook and appointed a new CEO. 3. Analysts downgraded Novo Nordisk due to competitive pressure from Eli Lilly. 4. Key support levels are around $36 and $29; resistance at $60 and $78. 5. Technical indicators signal potential short-term recoveries but long-term bearishness.

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FAQ

Why Bearish?

The company's downgrade and CEO change suggest prolonged instability; historical similar events show extended downtrends.

How important is it?

Significant external factors like a new CEO and market share loss affect investor sentiment.

Why Short Term?

Immediate volatility is expected, but longer-term risks remain due to competition.

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