Novavax Stock Forecast
Stronger technical forecast for Novavax stock price after Tuesday trading.
(Updated on Apr 23, 2024)
The Novavax stock price gained 2.95% on the last trading day (Tuesday, 23rd Apr 2024), rising from $4.07 to $4.19. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 6.60% from a day low at $4.09 to a day high of $4.36. The price has fallen in 5 of the last 10 days and is down by -5.2% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $14.99 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.91 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.23% during the next 3 months and, with a 90% probability hold a price between $4.07 and $6.44 at the end of this 3-month period.
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NVAX Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 7.71%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Novavax stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $4.68. On a fall, the stock will find some support from the short-term average at $4.02. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Novavax stock
Novavax finds support from accumulated volume at $4.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.270 between high and low, or 6.60%. For the last week, the stock has had daily average volatility of 5.07%.
Our recommended stop-loss: $4.01 (-4.34%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (NVAX) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Novavax Inc to open at $4.21, and during the day (based on 14 day Average True Range), to move between $3.94 and $4.44, which gives a possible trading interval of +/-$0.255 (+/-6.08%) up or down from last closing price. If Novavax Inc takes out the full calculated possible swing range there will be an estimated 12.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.10 (2.15%) than the resistance at $4.41 (5.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Novavax Inc stock A Buy?
Novavax holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.070 Hold/Accumulate Upgraded
Predicted Opening Price for Novavax Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $4.21 ( 0.557%) | $4.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NVAX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.48 | 7.00 % | |
| R2 | 4.38 | 4.54 % | ||
| R1 | 4.32 | 3.02 % | ||
| Current price: | 4.19 | |||
| Support | S1 | 4.11 | -1.90 % | |
| S2 | 4.05 | -3.43 % | ||
| S3 | 3.94 | -5.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.94 | 17.90 % | |
| R2 | 4.88 | 16.47 % | ||
| R1 | 4.41 | 5.25 % | ||
| Current price | 4.19 | |||
| Support | S1 | 4.10 | -2.15% | |
| S2 | 4.03 | -3.82% | ||
| S3 | 3.93 | -6.21% |
FAQ
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