After the recent price drop, things could get interesting again for BioNTech shares. Most recently, after an unsuccessful attempt to break out of the chart, the biotech share slipped from $ 60.43 to yesterday at the NASDAQ, which reached $ 46.30, but ended trading significantly above the daily low of $ 47.59. At first glance, the development is nothing special for a volatile share such as that of BioNTech, which is in focus because of its development work on a vaccine against the causative agent of the current corona pandemic. But a second glance shows that the biotech share opens up the opportunity to turn up again in an important support zone.
This fits in with the fact that there is a very early trend in the USA for the share price of the Mainz-based company, whose shares are primarily traded on the NASDAQ – but also on German stock exchanges.
The support zone is nothing new if 4investors chart checks are read regularly – we have had the BioNTech share in focus several times. In the past few weeks, chart-technical signal zones between $ 43.00 / 43.66 and $ 44.80 / 45.90 have intervened several times in the trend of the price development of the biotech share. Between $ 41 and $ 37, there are other strong support marks on the BioNTech share chart. Potential upward trends are currently running between this thicket of supports.
On the upside, a break above yesterday’s high of $ 50.22 could ensure that the BioNTech share gains momentum after the recent price losses. Smaller hurdles range from $ 52.01 to $ 54.20 before the hurdle zone that has recently become too high comes to the fore again at the $ 58 mark. This ranges from $ 59.98 / 60.43 to $ 64.45, the daily high of March 30th. A breakout would be a clear chart rally signal for the biotech share.
Important technical chart data for the BioNTech share:
Last share price: $ 47.59 (Stock Exchange: NASDAQ – USA)
After the “Corona Rally” of BioNTech shares in March from $ 28 to $ 105 within a few days, things have calmed down recently. A potential upward trend with just a few more support points is still intact and, together with various support brands, brings current support for the BioNTech share. On the other hand, there are high hurdles around $ 58.00 / $ 64.45.
Bollinger Bands 20 (below / above): $ 43.71 / $ 55.80
EMA 20: $ 49.76
EMA 50: $ 47.44
EMA 200: –
At a glance – chart and news: BioNTech
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