NVAX trade ideas
Novavax Despite the hate for nvax, I have been long since fake breakdown of pattern at 77$. I am long to around 192$ breakout target. Golden cross incoming on daily, weekly EMA at 112.30area if worst case support. RSI looking like strong pattern retest before further upside. Sold half of position at 138$ will hold the rest to around old ATH at 188$
NVAX- Dark horse in the vaccine raceNo one can predict the result of NVAX's phase 3 trial. However, I don't count out any potential winners in the vaccine race even though now it seems very likely that NVAX won't be the first one to distribute vaccines at massive scale.
That being said, as long as the result of phase 3 trial isn't a complete failure, I think the crowd frenzy will keep pushing NVAX's price up.
To be on the safe side, I would market buy 33% of my overall position and limit buy the remaining in the demand zone.
Just my opinion. Not the investment advice.
Buy on a double bottom confirmationHello,
I think the upside movement will continue. It's not too late to enter a long position.
On macro perspective the company will launch its phase 3 final trial next week. So far 2/3 have been completed for its NVX-CoV2373 vaccine.
On technical side the prices are shaping a double bottom. Aggressive buyers would have bought earlier but more than 20% can still be earned.
The 4h DMI keeps climbing. Current levels are 26 maybe go to 39 or more.
Let's see ...
NVAX - Break OutAfter MRNA , PFE , AZE's great vaccine trial result, the group has gained momentum today. The market is optimistic about NVAX's coming result and pushed price above pivot $113. The 4 month correction of 59% is finished and there is a chance for NVAX to challenge previous high at $188 if the vaccine result is good. However, it is a risky bet since the vaccine trial result is not out yet. Should buy with cautious.
My recommendation is to limit risk by using bull spread strategy. For example: buy $135 call @ $11 + Sell $165 call @ $5 with total cost of $6; The max profit is $2400 and max loss is $600
Or buy the stock at $120 with SL at $100 and 1st TP at $150, 2nd PT at $188.
$NVAX Novavax Inc Bullish reversal targets
Potential long entry above $103.21 0.236 Fibonacci level.
Targets
$112 - Horizontal resistance & 100ma
$120 - 0.382 Fib dead cat bounce.
Indicators bullish and volume rising.
major downtrend broken
More bullish signs for $NVAX although near-term downside likelyPhase D of reaccumulation with key resistance level just above (likely to slow down upward move). All signs still point up after overcoming that barrier.
$NVAX Bearish Swing Trade PlanGreen Line - Entry Target
Red Line - Exit Target
Pink Line - Stop-Loss
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NVAX Round upNVAX is forming a rounding formation and breached its premarket high today. It has now mounted over its moving averages, which will now act as support. I think this can take up back to the top of the range to the 110 area.
Multiple timeframe analysis for $NVAX --> very bullishMonthly, weekly, and daily charts all point north.
NVAX earnings miss (-$3.21 / share)Novavax (NVAX) reported a 3rd Quarter September 2020 loss of $3.21 per share on revenue of $157.0 million. The consensus earnings estimate was $2.36 per share on revenue of $234.2 million. I won't be surprised if NVAX tanks below $50 by 11/20. Do your own due diligence, your risk is 100% your responsibility. Good luck and happy trading friends...
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NVAX STOCKS DUMPED, DOWNTREND CONTINUESEarlier this year there was the question : How do you invest in Coronavirus vaccine stocks?
Now, we have the answer : YOU DONT.
Chart looking bleak, and the support lines are weak. This could be due to a few reasons:
- Lack of MAINSTREAM updates
- NVAX actually has no other vaccines
- Market volatility due to covid and elections
- Investors are seeking less riskier gains and getting out of stocks that do not look promising
Other than the above, we have seen strange behavior with stocks of companies in the race.
A few examples:
PFE Pfizer stock not responding to numerous huge injections from government
REGN Regeneron stocks hardly responding to Trump pimp
GILD Gilead even FALLING after being the first company world wide to receive FDA approval for remdesivir as a treatment.
AZN Astrazeneca in conjunction with Oxford has a trail candidate dead but stocks remain largely unaffected
I think NVAX has potential in the long run, long term I remain bullish for the company fundamentally, but not for an investment choice right now. In fact I'd say that no vaccine stock is a good investment right now. The way the market reacts to news is too unpredictable and the future remains uncertain.
Hit like if you found this insightful and helpful
Thanks, Ev
