The BioNTech share got off to a good start in the week. Once again, the zone around the 20-day line was shown as a support mark in the chart technology of the biotech share – the fourth consecutive trading day. The consolidation low of Thursday last week at $ 78.00 was no longer an issue, instead BioNTech’s share price on the NASDAQ yesterday turned up at $ 81.84. The Mainz company’s share certificate on the US stock exchange ended trading at $ 85.47, one cent below the daily high and up 4.09 percent.
From a technical chart point of view, the starting position for further price gains is therefore not bad for the BioNTech share, but decisive upward breakthroughs have not yet materialized. The fact that the rising 20-day line can now clearly be seen as support is also a point for the bulls. But without new procyclical buy signals, the pendulum can quickly swing in the other direction and technical chart supports in the vicinity come under pressure. For the BioNTech share, the scenarios that we have already outlined in the last 4investors chartchecks remain. And then it was already said: Don’t draw the technical conclusions too early!
The Biotech share has recently stabilized in a broad support zone, which extends to $ 74.56 / 76.00. This zone remains the short-term key brand for BioNTech’s share price. If there is a new chart-related sell signal at this brand, the chart image of the biotech share would then be significantly clouded over in the short term. That doesn’t change the fact that there are more support brands waiting below $ 71.38. On the upside, the range at $ 90.05 / 90.40 for BioNtech’s share price remains the first relevant obstacle brand, but it has not been at risk since Tuesday’s test. Upstream is a small obstacle at $ 86.79 / $ 87.58. Strong resistance can be found at the top at 105 dollars at the latest, on the way there are various smaller chart-technical hurdles to be observed.