Novo Nordisk A/S NVO will report its fourth-quarter earnings on Wednesday. Wall Street expects 86 cents in EPS and $11.40 billion in revenues as the company reports before market hours.

The stock is down 29.55% over the past year, 4.81% YTD.

Let’s look at what the charts indicate for Novo Nordisk stock and how the stock currently maps against Wall Street estimates.

Novo Nordisk Stock Strongly Bearish Ahead of Q4 Earnings

Novo Nordisk stock, at $83.18, is currently under strong bearish pressure, trading below its five-day, 20-day and 50-day exponential moving averages. This suggests a persistent downtrend with limited short-term momentum.

Chart created using Benzinga Pro

The eight-day simple moving average (SMA) of $85.04 and 20-day SMA of $83.69 both signal bearish conditions, indicating that Novo Nordisk stock has struggled to regain upward traction.

Additionally, the stock’s position well below its 50-day SMA of $94.26 and 200-day SMA of $120.12 reinforces the broader downtrend.

Momentum indicators further support the bearish outlook. The Moving Average Convergence Divergence (MACD) indicator is at a negative 2.60, signaling continued weakness, while the Relative Strength Index (RSI) sits at 41.89, hovering just above oversold territory.

Investors should monitor whether Novo Nordisk stock finds support at current levels or risks further downside. A sustained move above the 20-day SMA could hint at a potential trend reversal, while continued weakness may lead to further selling pressure.

Novo Nordisk Analysts See 68% Upside

Ratings & Consensus Estimates: The consensus analyst rating on Novo Nordisk stock stands at a Buy currently with a price target of $116.57. Recent analyst ratings from BMO Capital and Cantor Fitzgerald suggest a 68.47% upside for NVO stock.

NVO Stock Price Action: Novo Nordisk stock was trading down 3.55% at $82.97 at the time of publication Tuesday.

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