Staying strong in the red market while QQQ went back to fill some gaps. But shorts interest remain 20%. Hopefully we get a nice squeeze into FDA approval
My fib based time is pointing to $73 target on July 5th for now - fingers crossed. - Regular fibs at 61.8 and my trend lines are matching.
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NVAX beat the market again today. Shipment to USA starting to go out and FDA expected around 2nd week of July or maybe next week. I'm updating my price target to 68 on the 5th and 73 on the 6th
@quinnie0930, I think NVAX approval could get this whole thing going for the market. I remember in Jan 2021 there were 3 main factors driving that squeeze:
-BTC/crypto rally - GME - NVAX data readout
Lets see if history repeats here. The setup is there rn for so many big names
quinnie0930
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@otwa2113, is GME one of your short squeeze plays? It's taking time but it will happen next week. Happy July 4th :-P
JerryManders
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@quinnie0930, I'm seeing NVAX gap to 65.11-71.89 Tuesday. Then continue to 79-83... Possibly even 100 by July 12-14. Will probably pullback to 83 from there before re-attempting break above 100. I see 106.29 as trigger level to reach 127-137 and ultimately 183. Anything above 183 will invoke chaos w.r.t demand. They essentially created carryover demand in Jan-Mar and then absorbed all of the supply in May-June. This needs to happen by Sep 8-14 if its wants to make it 183. All we need is a breach of 65 on the gap up and rest will fall in place.
quinnie0930
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@otwa2113, nice - love all your resistance points. My chart saying 90ish around the 14th but i'll take 100+ :). do you get these numbers from your control charts code or e-waves?
JerryManders
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@quinnie0930, QQQ gap up Tuesday and close above 288.32; then run to 327.84 by July 12.. IF it gets above 327.84 by July 12th then it will run to 355.04 by July 25th. From there it needs to test 343-345 for support - and if that holds and regains 355 then it will trigger a massive squeeze that could send SPY to ATH early August and QQQ 372 or higher.
You've been saying 7/12 and 7/25, and those are definitely the critical dates I'm seeing undeniably when I revised my charts for SPY, QQQ, and a lot of high short float equity. I posted a new SPY idea with updated realization. My favorite plays right now are August calls for HUBS, NVAX, SQ, BYND, ROKU, GME
quinnie0930
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@otwa2113, Yep - seeing QQQ reaches 289 on Tuesday as well!