Yesterday, clear technical buy signals shaped NASDAQ trading in BioNTech shares, which closed trading at $ 80.70 with a daily plus of 9.5 percent. Intraday peaked at $ 81.56. After the previous downward movement in biotech shares from the all-time high of $ 105 to $ 54.10 at the beginning of September, the bulls have long since taken over again. Investors on the stock exchange already seem to be betting on the success of the COVID-19 vaccine BNT162, in which BioNTech and its partner Pfizer in the USA are in the final stages of the clinical test phase. If this provides good data, the company intends to apply to the FDA for approval in the coming weeks, which, given the urgent situation, shouldn’t be too long in coming.
In terms of charts, two important buy signals for the BioNTech share shaped the trend reversal scenario. First, the breakout above the $ 70 mark on October 1st. We recently pointed out their importance several times in 4investors chart checks on BioNTech shares. On the other hand, yesterday’s jump over technical chart hurdles at 76.28 / 77.40 dollars. It is still unclear whether BioNTech’s share price can jump over two other strong resistance zones in the short term, both of which are in the vicinity: On the one hand, 79.38 / 81.08 dollars, on the other hand, 82.21 / 83.33 dollars. Yesterday’s mini-break at the lower of the two zones was initially not confirmed on the basis of the NASDAQ closing price.
If the biotech share comes to profit-taking, pullback movements to the chart-technical hurdles recently exceeded would be possible. News about the COVID-19 vaccine project from BioNTech and Pfizer will then – depending on how they turn out – bring its own dynamics to the BioNTech share. The next few weeks will be exciting – and decisive.