Novavax (NVAX) Imminent Breakout from this Accumulation Range
I started an Investment Gems series with hopes of finding the best long-term investment opportunities in the bear market. NVAX was by far my favorite investment opportunity because I see a clear path for NVAX to climb from $6-7 price levels to $288. As discussed in my previous analysis, NVAX has reached this $288 price target 3 times in the past and I believe that there will be a fourth time.
My previous analysis can be found here:
Current Accumulation Range
NVAX is currently trending towards the buy zone for another buy opportunity. However, I think that NVAX is likely to breakout from this accumulation phase within the next few weeks or months.
I would be cautious of getting shaken out by selling at $9.18 and NVAX ends up trending up higher towards the long-term $288 price target. For me NVAX is a long-term play to $288.
My previous analysis can be found here:
Current Accumulation Range
- At the end of May I began posting NVAX as an investment gem with a buy zone between $6.50 and $7 (the two yellow lines).
- Bullish news came out, in which NVAX was given a $350 million payout for unused COVID vaccines that resulted in a quick 55% pump to the orange trendline ($9.18)
- We have been trading NVAX along this accumulation range by selling above the $9.18 orange trendline and buying in the buy zone between $6.50 and $7.
- These buy and sell opportunities are marked with red and green arrows.
NVAX is currently trending towards the buy zone for another buy opportunity. However, I think that NVAX is likely to breakout from this accumulation phase within the next few weeks or months.
I would be cautious of getting shaken out by selling at $9.18 and NVAX ends up trending up higher towards the long-term $288 price target. For me NVAX is a long-term play to $288.
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