Novavax Stock Forecast
Red day on Friday for Novavax stock after losing 1.44%
(Updated on May 31, 2024)
The Novavax stock price fell by -1.44% on the last day (Friday, 31st May 2024) from $15.25 to $15.03. During the last trading day the stock fluctuated 8.31% from a day low at $14.20 to a day high of $15.38. The price has risen in 6 of the last 10 days and is up by 4.37% over the past 2 weeks. Volume has increased on the last day by 4 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 14 million shares were bought and sold for approximately $207.98 million.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $16.65 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 142.72% during the next 3 months and, with a 90% probability hold a price between $16.60 and $40.41 at the end of this 3-month period.
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NVAX Signals & Forecast
The Novavax stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $15.32. On a fall, the stock will find some support from the long-term average at approximately $8.53. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -4.27%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Novavax stock
Novavax finds support from accumulated volume at $14.40 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.18 between high and low, or 8.31%. For the last week, the stock has had daily average volatility of 8.60%.
Our recommended stop-loss: $14.51 (-3.44%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 31 days ago.)
Trading Expectations (NVAX) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Novavax Inc to open at $14.87, and during the day (based on 14 day Average True Range), to move between $13.63 and $16.43, which gives a possible trading interval of +/-$1.40 (+/-9.29%) up or down from last closing price. If Novavax Inc takes out the full calculated possible swing range there will be an estimated 18.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.15 (0.80%) than the support at $14.40 (4.19%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Novavax Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Novavax stock to perform well in the short-term.
Current score: 1.011 Buy Candidate Unchanged
Predicted Opening Price for Novavax Inc of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $14.87 ( 1.06%) | $15.03 |
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 | 16.05 | 6.79 % | |
| R2 | 15.60 | 3.79 % | ||
| R1 | 15.32 | 1.93 % | ||
| Current price: | 15.03 | |||
| Support | S1 | 14.42 | -4.06 % | |
| S2 | 14.14 | -5.92 % | ||
| S3 | 13.69 | -8.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.70 | 4.46 % | |
| R2 | 15.52 | 3.23 % | ||
| R1 | 15.15 | 0.798 % | ||
| Current price | 15.03 | |||
| Support | S1 | 14.40 | -4.19% | |
| S2 | 13.48 | -10.31% | ||
| S3 | 13.11 | -12.77% |
FAQ
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