Novavax Short Term - We look to Sell at 54.79 (stop at 58.88) Prices expected to stall near trend line resistance. Trading volume is increasing. The trend of lower highs is located at 55.90. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower. Our profit targets will be 41.78 and 38.59 Resistance: 55.90 /...
$NVAX My memorial day homework 😁 Wyckoff Accumulation events + Elliott waves I have attached my two main theories that are happening together and we are approaching the end of it soon. For wyckoff, I am expecting a big shakeout to follow. We haven't seen yet a day that has the qualities of a spring. We have only experienced some rallies that turned back quickly...
My weekend analysis for $NVAX Finally, we are starting to build the long expecting and hopping final wave 5 of the primary cycle corrective wave C. It was a running flat structure, which is a rare structure, that is why it was a tricky one to understand from the beginning. I have inserted some supply and demand areas in order to understand better where we will...
I have altered my count a bit in order to find the best possible valid count. (The big picture remains the same although.) The count I see, that could explain in a simple way what is going on is the following. We haven't finished the wave 5 from the collapse of December. But we are still on the extended wave 5. On this count 38 is the bottom and if we pass it...
Flat structure, wave C already has 5 wavs within. Great entry at FE 162
Novavax Short Term - We look to Sell at 66.01 (stop at 72.46) Trades with a bearish descending triangle formation. Trading volume is increasing. We look for losses to be extended today. A close below the key support at 68.00 is expected to lead to further selling pressure. Closed below the 20-day EMA. Our profit targets will be 40.74 and 38.59...
Follow up here. If my count is correct (which is until now), we shall see a move higher and complete the primary corrective waves of WXY, which it seems to be the A wave from the corrective ABC waves after the big drop from 230. After that I expect a B corrective wave and then the C and the end of the corrective wave and hopefully the breakout from the lows.
I can't find any bull case (just yet) on technicals. Although, there are few targets for bears here. It seems that we have a bear flag and Abcde move. The e wave, which is form from ABC wave, has 3 possible targets according to fib levels, all inside in the flag... We are touching the 1st at close. (sometimes the e wave is shorter) If we have a break down next...
Novavax - Short Term - We look to Buy at 83.80 (stop at 75.92) Price action has posted a bullish Engulfing Candle and is positive for short-term sentiment. We look for gains to be extended today. Short term oscillators have turned positive. Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. Our profit targets...
My Elliott wave count for NVAX. I expect a re-accumulation and a visit at the low 60s maybe will touch 50s before going up again.
Novavax - Short Term - We look to Sell at 69.18 (stop at 77.64) Trades with a bearish descending triangle formation. A break of bespoke support at 70.00, and the move lower is already underway. We look for losses to be extended today. We look to set shorts in early trade for a further test of the fragile looking support. Closed below the 20-day EMA. Our...
Taking a long position for the potential head and shoulders pattern.
Very interesting to see what will happen on Monday (ER call). Rising wedge as well... most probably we will follow the channel and finish wave 5 at around 65$.
Taking a short-term short position here expecting to revisit the low 70s. Also hidden divergence in stochastic.
Xbi short term; we might see a reverse hs move to around 100-110. This will complete the retracement of wave 4. After that a wave 5 move at around 70s will be in play and considering the inflation head winds, it might be possible.
After following the price action the last couple of months, it is now so obvious that we are in a Wyckoff accumulation. I look now for a shakeout event to happen on the next following dates, which will test the supply/demand balance in the low 60s, before the back-up.
This is an updated chart to include new price action and the impulsive wave 5 structure. The target remains the same.