Two things are clear about the technical position of the BioNTech share after yesterday’s trading day on NASDAQ. On the one hand: It was not the liberation – despite the temporary increase in biotech shares to $ 63.67. At just $ 59.28, it went well below the daily high from trading. On the other hand: The share certificate of the Mainz-based company was able to move upwards noticeably from the previous day’s low of the price slump that started at 105 dollars – the low is 54.96 dollars. The BioNTech share retains the chart technical chances of an upward turn after a 50 dollar price loss since July 22nd.
In terms of chart technology, however, things still have to happen for this trend reversal to be realized – we had already pointed this out recently. The necessary breakout above the resistance zone between 64.08 / 65.50 dollars and 66.12 / 66.51 dollars was missed yesterday, instead BioNTech’s share price bounced down here. This shows that the risks of further falling prices and an expansion of the downward trend are still in the market for the biotech share.
Now the cops have to stay on the ball. BioNTech shares must overcome the obstacle zone between $ 64.08 / $ 65.50 and $ 66.12 / 66.51 as soon as possible in order to break out of the downward trend. If the Mainz share price breaks out, the next technical chart resistance zones would still be reached quite quickly. The signal marks range from $ 69.39 to $ 71.53.
If this does not succeed, there is a risk of a quick setback, as yesterday already indicated. The recently tested technical support level at $ 55.60 / $ 56.00 was extended to $ 54.20 / 54.96. There are additional support zones for the BioNTech share at $ 51.50 / $ 53.21.