Loss in weight loss Drugs
GLP1 Drug producers started 2024 with very strong momentum with Lilly touching nearly a market cap of 1T USD. But since then, the GLP1 manufactures have lost a lot of momentum. Novo Nordisk is at 52 weeks low as shown by the red line. Eli Lilly stock chart also showing bearish engulfing candle. The 20-Day, 50-Day and 100-Day are almost below the 200 Day SMA showing bearish divergence. IN the short to medium term the Price trend looks bearish unless there is a positive catalyst for the stock.
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