My weekend analysis for $NVAX Finally, we are starting to build the long expecting and hopping final wave 5 of the primary cycle corrective wave C. It was a running flat structure, which is a rare structure, that is why it was a tricky one to understand from the beginning. I have inserted some supply and demand areas in order to understand better where we will...
I have altered my count a bit in order to find the best possible valid count. (The big picture remains the same although.) The count I see, that could explain in a simple way what is going on is the following. We haven't finished the wave 5 from the collapse of December. But we are still on the extended wave 5. On this count 38 is the bottom and if we pass it...
Follow up here. If my count is correct (which is until now), we shall see a move higher and complete the primary corrective waves of WXY, which it seems to be the A wave from the corrective ABC waves after the big drop from 230. After that I expect a B corrective wave and then the C and the end of the corrective wave and hopefully the breakout from the lows.
I can't find any bull case (just yet) on technicals. Although, there are few targets for bears here. It seems that we have a bear flag and Abcde move. The e wave, which is form from ABC wave, has 3 possible targets according to fib levels, all inside in the flag... We are touching the 1st at close. (sometimes the e wave is shorter) If we have a break down next...
My Elliott wave count for NVAX. I expect a re-accumulation and a visit at the low 60s maybe will touch 50s before going up again.
My Elliott waves count for novavax. Still on correction...
Very interesting to see what will happen on Monday (ER call). Rising wedge as well... most probably we will follow the channel and finish wave 5 at around 65$.
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.