The Hourly View for NVAX
Currently, NVAX (Get Ratings)’s price is up $2.59 (2.06%) from the hour prior. This is the 2nd hour in a row NVAX has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
Out of Pharmaceutical Products stocks, NVAX ranks 2nd in regards to today’s price percentage change.
NVAX’s Technical Outlook on the Daily Chart
Currently, NVAX’s price is up $7.8 (6.45%) from the day prior. It’s been a feast for bears operating on the daily timeframe, as NVAX has now gone down 4 of the past 5 days. Regarding the trend, note that the strongest trend exists on the 100 day timeframe. Of note is that the 100 day changed directions on NVAX; it is now pointing up. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. Novavax Inc’s price action over the past 90 days can be seen via the chart below.
For NVAX News Traders
News traders keeping an eye on NVAX may find value in this recent story:
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The post Novavax Inc (NVAX): Price Now Near $128.57; Daily Chart Shows Downtrend on 20 Day Basis appeared first on ETF Daily News.
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