Novavax Stock Forecast

Novavax stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jul 03, 2024)

NVAX Signals & Forecast

There are few to no technical positive signals at the moment. The Novavax stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $12.98 and $14.98. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -40.15%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $0.768 between high and low, or 6.17%. For the last week, the stock has had daily average volatility of 6.22%.

Novavax is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: $11.70 (-6.74%) (This stock has very high daily movements and this gives very high risk. Low RSI14 is 13 which reduces the risk some. There is a sell signal from a pivot top found 53 days ago.)

Trading Expectations (NVAX) For The Upcoming Trading Day Of Friday 5th

For the upcoming trading day on Friday, 5th we expect Novavax Inc to open at $12.73, and during the day (based on 14 day Average True Range), to move between $11.28 and $13.82, which gives a possible trading interval of +/-$1.27 (+/-10.11%) up or down from last closing price. If Novavax Inc takes out the full calculated possible swing range there will be an estimated 20.22% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $13.11, some $0.560 (4.46%) from the current price of $12.55, our system finds the risk reward not very attractive.

Is Novavax Inc stock A Buy?

Novavax holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.465 Hold/Accumulate Upgraded

Predicted Opening Price for Novavax Inc of Friday, July 5, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.