These are my thoughts on Novavax. They are meant to give you an idea, not trading advice.
As written in the textbooks, gaps in a downtrend always get filled in an uptrend. We already filled gap 1. I believe it's time to start filling gap 2, witch is gigantic. Novavax is receiving a lot of financial support for making a Covid19 vaccin, so expectations are high for now. It's one of the stronger stocks in the market at this moment, working together with Biotechnology.
As you can see on the charts, we have formed a similar pattern as we did in April 2020. I don't know how fast gap 2 can get filled, but as soon as we started filing gap 1, things skyrocketed. I'm very excited to see how this will play out, and I hope it can help you.
Please note that Novavax is a very volatile stock, things can change very fast over night. Be careful when entering your position in this stock!
Comment
⋅
first target reached
Comment
⋅
2nd target reached, this is very positive. I think it will have a correction now to the 63-69 ish levels. From there one it'll start drinking red bull ;-)
Comment
⋅
Comment
⋅
Looking into NOVAVAX, we have reached a new high. There should be some consolidation these days, to a new higher low around 63$. From there on we should bounce to a new high, around 110$.
Comment
⋅
OK, so it just went a little bit higher. This also moves our targets. Purple horizontal lines are the support targets, white horizontal lines are the resistance targets.
Comment
⋅
Seems like the top was indeed around 88$. I will now watch some levels very closely to buy back in to NAVAVAX. I'm placing my buy-in-target somewhere between 54 and 60, hoping it will test the previous high as support.
Comment
⋅
let me make that chart a little more clear for you.
Comment
⋅
Of course I have no idea if it will test those previous highs. It could retrace only a bit lower and take off again, momentum on this stock is very strong.
Comment
⋅
Someone asked me to do an update on Novavax, so maybe more people are waiting on this. At this time there's really not much to say. Price is still going sideways in it's range, it had a long strong rally up, so this needs to cool off. I don't see much happening here in the following weeks. If it does, I will definitely do another update.
Comment
⋅
I did make a new chart idea on this, since this last move up could have been a wave 5. If so then it will probably do an ABC correction and retrace down towards our mentioned target around 55 to 60.
Comment
⋅
OK guys, just want to point this out, since everyone is super bullish on Novavax. I placed the bull run from 2014 over this years run. This is a very possible scenario. Everyone is getting over bullish on Novavax, the market loves to (ab)use this. It's very possible, after we see a new new rally towards the 130's, a long period of consolidation will take place. This will shake all weak hands out of the market. I'm not saying it WILL happen, I'm saying it happend in 2014. Be prepared for this scenarios. Don't get to focust on what your mind is telling you, listen to what te market is telling you.
Comment
⋅
wow... I did not see this coming.
Comment
⋅
I'm out of this market. Waiting to short now.
Comment
⋅
Hi guys, should do an update here. I think we went into a corrective wave. I should have known the previous try was too soon. This corrective wave could take a while, as price is reaching resistance. A big part of the gap got filled, still a big part of it that didn't, but If we go further back in time, there's some resistance there.
We have to remind ourselves that Novavax is extremely Covid-19 related. If Novavax can report positive results for its ongoing clinical trial, the stock could definitely jump higher. Novavax expects results by the end of July. On the flip side, negative results could drag price down (what would give a good entry point of course).
Target numbers are mis labeled. I removed some others on lower time frames lol. U get the idea though.
AXLP
⋅
@allout06, nice, you got the line in the sand. I think it will hit that target. And to be honest, given the 'potential danger' of this virus and the urgency for a vaccine, I think we could see an all time high.
allout06
⋅
@AXLP, I 100% agree. I think this is going to be a $300+ stock by Q2 next year. As long as clinical trial reports are good next month and earnings in August. 1B doses ready by Jan 1 upon FDA approval, it's off to the races.
They have a contract for vaccines with the DoD as well. Lot's of positive fundamentals behind it that line up very well with time and techincals.
robinstallsforyou2
⋅
maybe you can share your idea on what you think she might fall back too.. I would like to pick up some more shares.. i really appreciate you taking he time to share your ideas..
CryptBay
⋅
It needs to cool down, weekly RSI to the roof. If no healthy correction takes place (at least 40% retracement) in order to continue on it's next bullish advance. Then it's a major bull trap at play.