BioNTech is currently still burning off a firework of news. The Mainz biotech company’s share alone does not want to really get going from this news. Yesterday, the company announced a COVID-19 vaccine deal with Canada and the start of clinical trials of the vaccine in China – and the share price fell. At the end of the day, BioNTech shares closed trading at $ 81.30, down 2.25 percent, and in the course of the day the share had even fallen to $ 76.85.
Burdens are likely to come on the one hand from the most recent capital increase to 93 dollars, on the other hand also from technical chart effects after BioNTech’s share price turned down twice at 105 dollars – most recently on July 22nd. The subsequent consolidation movement is currently further determining the technical picture for the biotech share. The paper has not yet managed to break through the consolidation trend. Instead, the technical chart structure is becoming increasingly shaky.
A look at the BioNTech share chart also shows: The important support brands around the core area at 74.56 / 76.00 dollars have not yet been undercut. On the contrary: The zone, the upper extremities of which extend to $ 76.80, was briefly in play yesterday and sent the Mainz share price up.
From a chart point of view, the biotech share remains with the previous Fazot: If there is a new chart technical sell signal in the core area at 74.56 / 76.00 dollars, the chart image of the BioNTech share would deteriorate significantly in the short-term time window – especially afterwards of yesterday’s daily candle in the candlestick chart. 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 consider
Important technical data on the BioNTech share:
Last share price: $ 81.30 (Exchange: NASDAQ – USA)
Bollinger Bands 20 (bottom / top): $ 67.83 / $ 98.57
EMA 20: $ 83.20
EMA 50: $ 70.44
EMA 200: $ 44.08