New update for Novavax (elliot waves)

NASDAQ:NVAX   Novavax, Inc
Finally, the price broke down after a few attempts that failed and eventually became bull traps. It was a very complex move to navigate and many times a trader can lose patience...

Now we are on the way to completing wave 5 or C (I have labeled it with both). We may see a retest of the upper wedge line which will be wave (iv) or c. There will find the 2h supply zone . To support this action, some will notice the weak bullish divergence of rsi .

Imo we will see volume decreasing, as we already see some, and when eventually it diminishes, we will see a decisive test of the remaining supply into the end of wave 5. There we may see a bear trap as the bears will see a channel break down, latecomers will be trapped and fear will be all over retail investors allowing smart money to accumulate the remaining floating supply in ghost mode.


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