Update on Wyckoff accumulation chart. Volume is decreasing. A low-volume spring (or a low-volume test of a shakeout) indicates that the stock is likely to be ready to move up, so this is a good time to initiate at least a partial long position.
We look to Buy at 35.94 (stop at 32.00)
Posted a Bullish Hammer Bottom on the Daily chart. Although the anticipated move higher is corrective, it does offer ample risk/reward today. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Expect trading to remain mixed and volatile.
Weekly update with my long-term scenario... It looks short-term bearish, but it is the best scenario for long-term bulls according to Elliott waves! It has a gap fill in the low 20s, and then a wave (c) super cycle will start. As you see on the side there is a gap of volume below 35 and then a huge amount of volume from 10s-20s, I am not saying we will go there,...
A few days ago, NVAX gapped down 30 percent on a large earnings miss. This means that now NVAX is down over 87% from its ATH.
Why I think NVAX is a buy right now
The stock had a minor rally off a long term support level extending to 2020, and has higher lows than during the previous rally off this support level. It is trading at a heavily discounted...
After 6 months of suffering, next 2 weeks will be pay-week for NVAX investors. My chart should be self-explanatory, of course there are pullback along the way, I'll let you figure this out on your own. It took me sometime to put this together. So enjoy. Hopefully some of these come out correctly :)
(This is a near term chart - the white line is the trend line)
Novavax NVAX is actually lining up pretty well... from about 240, it tanked to 40, and on Friday, it gained 11% to close the week at 57.15.
This caught my attention as it cleanly broke out of trendlines, breaking out also from a bearish divergence, on BOTH the weekly and daily chart.
IMHO, it appears to be in technical and fractal alignment.
Weekly Update! The best time of the week is when you have a clear mind and time to check the TA.
I have seen this movie a couple of times before. One was not so far ago... April 6th. Sharp move down after a breakdown of a bear flag. RSI in extreme levels marked the wave iii of wave 3. Then bear flag again, triangulation of the rsi with inside hidden bearish...
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...
Short Term - We look to Sell at 48.97 (stop at 53.42)
Prices expected to stall near trend line resistance. Trading volume is increasing. The trend of lower highs is located at 55.90. Preferred trade is to sell into rallies. A break of yesterdays low would confirm bearish momentum.
Our profit targets will be 22.96 and 13.90
Resistance: 50.00 /...
Update from post yesterday - obviously the manufacturing news killed momentum so taking this opportunity to roll to July expiration and add some lower strikes at a discount.
- Chart indicates a symmetrical triangle breakdown into support. DMI suggests accumulation, this will be the spring.
- Expecting yellow path to play out as price trajectory. Forming an...
Short Term - We look to Sell at 54.79 (stop at 58.88)
Prices expected to stall near trend line resistance. Trading volume is increasing. The trend of lower highs is located at 55.90. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Our profit targets will be 41.78 and 38.59
Resistance: 55.90 /...
$NVAX My memorial day homework 😁
Wyckoff Accumulation events + Elliott waves
I have attached my two main theories that are happening together and we are approaching the end of it soon.
For wyckoff, I am expecting a big shakeout to follow. We haven't seen yet a day that has the qualities of a spring. We have only experienced some rallies that turned back quickly...
My weekend analysis for $NVAX
Finally, we are starting to build the long expecting and hopping final wave 5 of the primary cycle corrective wave C. It was a running flat structure, which is a rare structure, that is why it was a tricky one to understand from the beginning.
I have inserted some supply and demand areas in order to understand better where we will...