Novavax Stock Forecast
Red day on Wednesday for Novavax stock after losing 0.95%
(Updated on Apr 24, 2024)
The Novavax stock price fell by -0.95% on the last day (Wednesday, 24th Apr 2024) from $4.19 to $4.15. During the last trading day the stock fluctuated 3.90% from a day low at $4.10 to a day high of $4.26. The price has fallen in 5 of the last 10 days and is down by -2.58% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 2 million shares were bought and sold for approximately $10.09 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 $3.90 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 2.82% during the next 3 months and, with a 90% probability hold a price between $4.01 and $6.30 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 6.68%. 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). 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 $4.64. 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. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
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 $0.160 between high and low, or 3.90%. For the last week, the stock has had daily average volatility of 4.97%.
Our recommended stop-loss: $3.97 (-4.30%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (NVAX) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Novavax Inc to open at $4.17, and during the day (based on 14 day Average True Range), to move between $3.90 and $4.40, which gives a possible trading interval of +/-$0.248 (+/-5.98%) up or down from last closing price. If Novavax Inc takes out the full calculated possible swing range there will be an estimated 11.97% 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 (1.20%) than the resistance at $4.41 (6.27%), 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.
Current score: -0.810 Hold/Accumulate Unchanged
Predicted Opening Price for Novavax Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $4.17 ( 0.482%) | $4.15 |
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 | 4.33 | 4.34 % | |
| R2 | 4.27 | 2.86 % | ||
| R1 | 4.23 | 1.95 % | ||
| Current price: | 4.15 | |||
| Support | S1 | 4.11 | -0.99 % | |
| S2 | 4.07 | -1.90 % | ||
| S3 | 4.01 | -3.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.94 | 19.04 % | |
| R2 | 4.88 | 17.59 % | ||
| R1 | 4.41 | 6.27 % | ||
| Current price | 4.15 | |||
| Support | S1 | 4.10 | -1.20% | |
| S2 | 4.03 | -2.89% | ||
| S3 | 3.93 | -5.30% |
FAQ
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