Can NVAX rise again?

Updated
NVAX has had significant down trending over a wide range of time. On the 4H chart it seems to

be pivoting from a swing bottom 3-4 days ago. This is accompanied by a cross of the MACD

lines under the histogram on that indicator and a flip of volatility on the relative volatility

indicator. NVAX has been subject to significant short selling. Price is presently nearly

two standard deviations below the mean anchored VWAP set in mid May. Basically it is in

deep undervalued oversold territory and now with a rise. The volume profile has a point of

control level considerably above the mean VWAP. This is the level with the highest volume

of trades showing most trades occurred well above VWAP. This would be traders taking

profit and selling or alternatively short sellers opening a position but more likely a combination

of them. Price wants to ascend to at least VWAP if not the POC line. My analysis is that

any significant rise could begin a squeeze on short positions. Those closing with a buy to

cover trade would in effect be synergizing new buyers and add to the bullish momentum,

Accordingly, I will open a position early and see if I can get in ahead of a potential

short squeeze. While speculative, a narrow stop loss at 6.80 the second band line below

the mean VWAP will take a lot of risk off the trade and allow me to be patient comfortably

watching the price action.
Trade active
Having traded through the premarket NVAX is for the moment heading up.
tradingview.com/chart/DFkQVEdC/?symbol=EIGHTCAP:USOUSD
Trade active
NVAX got a nice pop and so half the position off the table. Will take half of remaining off tomorrow and run the remaining 1/4 for the weekend. All on
a lackluster day /week in the general market.
anchoredvwapMoving AveragesMRNANVAXPFEreversaltradingTrend LinesvaccinestocksVAXXVolumevwapbands

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