The question is whether the bulls can push the stock even higher today. Personally, I do not rule out that such a powerful upside gap - amid broader market concerns - could trigger some profit taking. Therefore, I will be watching to see if the stock can hold the RY2 / SM1 zone. If this happens, we can see
On the downside, a break below RY2 / SM1 will put the 20- and 50-day moving averages to the test. An even more bearish scenario involves retesting recent diagonal resistance and potential gap filling at $188. This zone, however, should serve as very strong support, where we will definitely see buybacks.
Commento:
The bearish scenario is unfolding. NVAX tried to break above RY1 but ultimately failed. It has lost the SM2 level, has broken below the 20-day EMA and looks set to retest the 50-day moving average.
DISCLAIMER: I am not a financial advisor, and my scripts are for educational purposes only. Any trades you make are at your own risk.