We last checked on the charts of NovoCure Ltd. (NVCR) on Nov. 4 where we wrote that, "If you are still long NVCR from early October then I would continue to hold those positions but raise stop protection to a close below $110 now."
Let's check out the charts again. In this daily Japanese candlestick chart of NVCR, below, we can see a large red candle (bearish) with the entire range and close below the cresting 50-day moving average line.
Trading volume has been increasing in recent days and the On-Balance-Volume (OBV) line has weakened. The Moving Average Convergence Divergence (MACD) oscillator has been weakening since December and is now close to the zero line.