BioNTech share: turn to the next price rally? – chart analysis

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)
Charting trends:

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
More about biotech shares on 4investors: click here

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