NVAX: Covid Stocks to Move Lower? We look to Sell at 69.18 (stop at 77.64)
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 profit targets will be 47.66 and 38.59
Resistance: 86.00 / 100.00 / 120.00
Support: 70.00 / 60.00 / 50.00
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