Novavax Stock Forecast
Big movements in Novavax stock price on Tuesday moving 10.39% between high and low
(Updated on May 07, 2024)
The Novavax stock price fell by -3.15% on the last day (Tuesday, 7th May 2024) from $4.76 to $4.61. During the last trading day the stock fluctuated 10.39% from a day low at $4.48 to a day high of $4.94. The price has risen in 6 of the last 10 days and is up by 10.02% over the past 2 weeks. Volume has increased on the last day by 445 thousand 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, 5 million shares were bought and sold for approximately $24.07 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.62% during the next 3 months and, with a 90% probability hold a price between $3.49 and $5.22 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 $4.61. On a fall, the stock will find some support from the long-term average at approximately $4.43. 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. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 18.51%. 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. 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 $4.41 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 $0.465 between high and low, or 10.39%. For the last week, the stock has had daily average volatility of 7.62%.
Our recommended stop-loss: $4.49 (-2.60%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (NVAX) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Novavax Inc to open at $4.68, and during the day (based on 14 day Average True Range), to move between $4.33 and $4.89, which gives a possible trading interval of +/-$0.277 (+/-6.00%) up or down from last closing price. If Novavax Inc takes out the full calculated possible swing range there will be an estimated 12.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.41 (4.34%) than the resistance at $4.88 (5.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Novavax will release earnings BMO on Tuesday, May 14, 2024.The consensus among the analysts for the expected earnings (EPS) is -$1.04. We will update the financials statements for Novavax, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 11.38% in the first trading day after earnings release.
Is Novavax Inc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.081 Buy Candidate Unchanged
Predicted Opening Price for Novavax Inc of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $4.68 ( 1.41%) | $4.61 |
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 | 5.14 | 11.50 % | |
| R2 | 4.96 | 7.64 % | ||
| R1 | 4.85 | 5.26 % | ||
| Current price: | 4.61 | |||
| Support | S1 | 4.50 | -2.44 % | |
| S2 | 4.39 | -4.82 % | ||
| S3 | 4.21 | -8.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.29 | 14.75 % | |
| R2 | 4.94 | 7.16 % | ||
| R1 | 4.88 | 5.86 % | ||
| Current price | 4.61 | |||
| Support | S1 | 4.41 | -4.34% | |
| S2 | 4.30 | -6.72% | ||
| S3 | 4.15 | -9.98% |
FAQ
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