I have altered my count a bit in order to find the best possible valid count. (The big picture remains the same although.) The count I see, that could explain in a simple way what is going on is the following.
We haven't finished the wave 5 from the collapse of December. But we are still on the extended wave 5. On this count 38 is the bottom and if we pass it...
Descending triangle break on the daily and now forming a bear flag for a possible leg lower.
Watching the flag break and confirmation.
Another confirmation could be 56.85 price level.
Targets: $50 , 47.93
Not financial advice.
The essence of investing & trading is the intelligent and patient preying on the greed, fear, impatience, addiction and ignorance of the majority. It's definitionally Darwinian.
Novavax
Short Term - We look to Sell at 66.01 (stop at 72.46)
Trades with a bearish descending triangle formation. Trading volume is increasing. We look for losses to be extended today. A close below the key support at 68.00 is expected to lead to further selling pressure. Closed below the 20-day EMA.
Our profit targets will be 40.74 and 38.59...
Follow up here. If my count is correct (which is until now), we shall see a move higher and complete the primary corrective waves of WXY, which it seems to be the A wave from the corrective ABC waves after the big drop from 230. After that I expect a B corrective wave and then the C and the end of the corrective wave and hopefully the breakout from the lows.
Doomscalling can be fun at the ATH when valuations are through the roof, but are most overlooked when price seems enticing, should be higher *because it was so high earlier*. But that's when the price is the most vulnerable.
From what I see on the 3 Day chart, flag breakdown is in progress.
Downside target is 54, which should find good support.
Be careful if...
Hah... These trend lines are the accumulation of attempts to figure this thing out over the last year. Ridiculous price action but learned to leverage the volatility and play the extremes.
Currently at a relative downside extreme. Also signs of Wyckoff Accumulation similar to the build up when it popped Jan 2021.
Time series 1-month point forecast target is 163,...
Novavax - Short Term - We look to Buy at 83.80 (stop at 75.92)
Price action has posted a bullish Engulfing Candle and is positive for short-term sentiment. We look for gains to be extended today. Short term oscillators have turned positive. Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Our profit targets...
Novavax - Short Term - We look to Sell at 69.18 (stop at 77.64)
Trades with a bearish descending triangle formation. A break of bespoke support at 70.00, and the move lower is already underway. We look for losses to be extended today. We look to set shorts in early trade for a further test of the fragile looking support. Closed below the 20-day EMA.
Our...
Very interesting to see what will happen on Monday (ER call). Rising wedge as well... most probably we will follow the channel and finish wave 5 at around 65$.
Pfizer looks to test $50, and possibly the gap around 46~ if things get really ugly. Omicron is looking really promising as granting significant immunity after infection, which should reduce demand for further vaccinations. These vaccines companies have YEARS of covid priced into their stocks... Short side is getting a bit long in the tooth for new entries,...
Novavax will complete primary wave 2, which is an ABC correction. In my opinion we will visit again 60s in order to complete the wave 5 within wave C prior the new wave up.
After following the price action the last couple of months, it is now so obvious that we are in a Wyckoff accumulation. I look now for a shakeout event to happen on the next following dates, which will test the supply/demand balance in the low 60s, before the back-up.
Down to the True Jenkins line. See if it bounce off it. (Michael S Jenkins. Square root out of bottom price +2 then resquare! Draw the trend line from bottom to the number you get at exactly one year later. )
MRNA going according to plan from my earlier posts. I can't update with charts anymore, for some reason? So I am posting again. Re-iterating targets in the 170-180 range. $230 is the Line in the Sand for bearish continuation. took off a few of my puts today.
