NVAX Biotechnology Watch Dead Cat Bounce LONG
NVAX is fundamentally weak with a shallow pipeline and no products currenly marketed
to fund earnings and so research. On the 15 minute chart , NVAX is seen near to its
demand zone as shown by the Luxalgo indicator. In the meanwhile, the RSI indicator
shows considerable recent strength which is decreased today.
So the question is whether NVAX can dead cat bounce with a potential 20% uptrend
to reach the supply one or if it instead will break support and continue its descent
from a double top April 14-17. I will watch this for the price action to determine
whether to take a long trade or short sell this again. Other " vaccine stocks"
may be in action as well including VBIV, VCNX, VAXX and MRNA.
to fund earnings and so research. On the 15 minute chart , NVAX is seen near to its
demand zone as shown by the Luxalgo indicator. In the meanwhile, the RSI indicator
shows considerable recent strength which is decreased today.
So the question is whether NVAX can dead cat bounce with a potential 20% uptrend
to reach the supply one or if it instead will break support and continue its descent
from a double top April 14-17. I will watch this for the price action to determine
whether to take a long trade or short sell this again. Other " vaccine stocks"
may be in action as well including VBIV, VCNX, VAXX and MRNA.
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