If you ran a StockCharts scan for Runaway Gaps (Runaway Gap Ups) on Thursday, you would have come across only 12 stocks. Among them, the most recognizable name was Novo Nordisk A S (NVO), the Danish pharma company best known as the developer of the popular diabetes II drug, Ozempic. Having already gained 26% since January, NVO jumped over 9% after reporting successful early trial results for its new weight loss drug, amycretin. Trial participants who took the drug achieved an average weight loss reduction of 13.1% over a 12-week period. Wall Street sentiment is betting on the possibility that this new drug will be just as big as, if not bigger than, Ozempic, and some investors want to get in early. It’s easy to see why by simply looking at a weekly chart plotted over five years, covering the time when Ozempic became mainstreamed not only as a diabetes…
