In short, they most likely bounce from this level for a short time, but whether they continue their bull run or not depends on price action in the next couple weeks. I have some remarks on the charts that might help following up with their moves. The RSI for all three companies are in oversold area and historically we have seen them move back up when they hit 30 RSI.
Two of these companies (MRNA and NVAX) are testing their trendline and have a good chance of going back up and staying above their 200 MA. NVAX is under its 200 MA but its RSI and trendline is in favor of its bounce.
BNTX has broken its trendline but should test the line before deciding on its direction. If it manages to get back above the trendline with volume, then it may continue its bull run, otherwise we should see it going down. See the MAs and RSI on these charts. The only concerning factor might be the large red volumes in the last few trading days, but comparing to previous bearish moves they are not significantly larger. Still something to watch for.
Overall, there is high chance of them bouncing back up for a short time, but this could also be a sign for a larger pullback after a quick break.
Two of these companies (MRNA and NVAX) are testing their trendline and have a good chance of going back up and staying above their 200 MA. NVAX is under its 200 MA but its RSI and trendline is in favor of its bounce.
BNTX has broken its trendline but should test the line before deciding on its direction. If it manages to get back above the trendline with volume, then it may continue its bull run, otherwise we should see it going down. See the MAs and RSI on these charts. The only concerning factor might be the large red volumes in the last few trading days, but comparing to previous bearish moves they are not significantly larger. Still something to watch for.
Overall, there is high chance of them bouncing back up for a short time, but this could also be a sign for a larger pullback after a quick break.
Bình luận:
Trendline has not been retested yet. Sell off continues. Make sure to watch it when it bounce back for the retest. That'll be a great short opportunity.
Bình luận:
We had retested the trendline. If you followed this piece and bought puts, your NVAX is going to puts extremely well tomorrow. Down 25% PM!
Bình luận:
Sold to close NVAX puts at the open.
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MRNA dropped 18% today. The "larger pullback" is here!
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Disclaimer: This is not a financial advice and all posts are for educational purposes only.
Disclaimer: This is not a financial advice and all posts are for educational purposes only.
