VXRT Potential Breakout/Trend Reversal?
Vaxart's previous run after COVID ended with a .30c gap down on the daily early June 2023, even so, once reaching previous low it ran up again. It has also shown much more promising earnings since the gap down. They have also ditched the Covid program to focus on norovirus and prolong cash runway into Q4. There is a WHO summit at the end of this month with billions of funding on the line, VXRT will likely be the recipient of a portion of that funding for their Norovirus Vaccine.
Today, 5/21 in after hours on the intraday there was a gap-up to .95. You will not see this on a Regular hour chart, or daily. 5/23 I anticipate VXRT to run back up to over $1 in the pre-market, completing the gap-fill.
From there, it may begin a run back up towards $2 or $3, or it may pull back into the .9-.95 range first; but either way I personally think VXRT is experiencing a trend reversal and may not return to under $1 again.
Also the XABCD pattern before the gap up is a bullish bat, and many technical indicators like moving average and RSI suggest a move up.
I'm new to trading, and may be wrong, so please do your own analysis. If you are experienced, please let me know what you think of my analysis so I can improve.
Today, 5/21 in after hours on the intraday there was a gap-up to .95. You will not see this on a Regular hour chart, or daily. 5/23 I anticipate VXRT to run back up to over $1 in the pre-market, completing the gap-fill.
From there, it may begin a run back up towards $2 or $3, or it may pull back into the .9-.95 range first; but either way I personally think VXRT is experiencing a trend reversal and may not return to under $1 again.
Also the XABCD pattern before the gap up is a bullish bat, and many technical indicators like moving average and RSI suggest a move up.
I'm new to trading, and may be wrong, so please do your own analysis. If you are experienced, please let me know what you think of my analysis so I can improve.
Comment:
Correction: they didn't ditch the COVID program, I got mixed up with March headlines
Comment:
Down in premarket but the bounce is undeniable. 38.2% retrace complete and golden cross on the daily.
Comment:
Today may be the last push down. If we bounce today off the lower support line, then an upward move could be possible as indicated by these XABCD harmonic patterns. Bullish bat has already formed, and a bullish Gartley is very possible here.
Today may be the last push down. If we bounce today off the lower support line, then an upward move could be possible as indicated by these XABCD harmonic patterns. Bullish bat has already formed, and a bullish Gartley is very possible here.
Comment:
I think one more push downward under .76 is possible, but then we're in the Fair Value Gap of the initial push and we may see the bounce happen there.
Comment:
Do you feel it?
Comment:
Nice daily candle with the end of day reversal on the hourly, nice bullish marubozo to end the day!
I anticipate the coming days will show another test of the low with a following breakout, if we don't just go up from here. Today could have been considered a double bottom of the low at ~.79-.78 area. If we're lucky some nice PR will break resistance levels and solidify a good uptrend.
I anticipate the coming days will show another test of the low with a following breakout, if we don't just go up from here. Today could have been considered a double bottom of the low at ~.79-.78 area. If we're lucky some nice PR will break resistance levels and solidify a good uptrend.