BNTX Short

3 thg 9, 2021

BNTX
Hey guys,

This is my first analysis so please do not be too harsh on me.

After several months of exceptional performance, I do believe that the Biontech stock reached its peak on 10-08-2021 (450$).
The vaccinations are still going on and a lot of people opt for the Fizer/Biontech vaccine with certainly has its impact on the stock market.

I have little to no experience in Fundamentals, so I choose the technical path.

Looking at the Chart (4H Timeframe) you can see with the Ichimoku cloud (settings: 20, 60, 120, 30), RSI (14), DMI (14, 14), and the Volume that the upwards trend is slowly starting to subside.
Even without indicators, this fade is pretty obvious.

Looking at the Ichimoku cloud the price broke the cloud and seems to move down. This theory is supported by the fact that a crossing between the Conversion Line and the Base Line.
The DMI Indicator saw this trend reversal a week earlier so this is also a confirmation sign.
Furthermore, we can observe that the RSI broke below the "50" line and is moving dangerously close to the oversold section.

Now since this is still an upwards trend, with the price still above the 200 MA with addition to trend lines,
it is difficult to say if this move right now is a trend reversal or just a correction for the overbought timespan end Juli till mid-August.

Taking in the Fib-Retracements into account for this setup the most likely scenario would be that the price retests the Ichimoku cloud and moves to the 0.618 retracement.

So the setup would be:
Entry: 324€
Stop loss: 330€ (above the Leading Span B/ red line from the cloud but below the green line Span A)
Take profit: 301€ (above 300€ natural horizontal support/resistance)


Hope this analysis helps you with the decision :)
Happy trading
Ocamond