There is little movement in the BioNTech share today – currently the share on the Frankfurt Stock Exchange is up 0.74 percent at 76.13 euros. But the technical situation on the market-defining US dollar chart of the Mainz biotech company on NASDAQ remains interesting. The trading on Monday ended the share price of BioNTech on the NASDAQ at 88.74 dollars after a daily high of 91.90 dollars.
BioNTech’s share price was unable to defend the interim jump over the technical chart obstacles at 90.05 / 90.40 dollars – a possible sign of weakness after the recent price rally from 54.10 dollars to yesterday’s high, which was also the high of the upward movement. In terms of the chart, this would come as no surprise after the steep movement of the past few days that there is a need for consolidation.
A look at the signal marks: At 87.50 / 88.30 dollars, the first support for the BioNTech share is currently emerging. Further support marks appear just below this. For BioNTechs shares, a break below $ 80.70 / $ 81.56 is likely to be more critical from a chart point of view – but even then another stronger support point would be found around $ 76.28 / 78.00.
On the bullish side, if a breakout above 90.40 / 91.90 dollars succeeds and this break then remains stable, another important milestone would be taken on the way back to the all-time high at 105 dollars. Before this double price peak can be reached, however, technical chart hurdles of $ 96.09 / $ 97.82 and $ 101.15 would have to be overcome.
It remains to be seen how US investors will respond to the breaking news COVID-19 vaccine study at BioNTech’s competitor Johnson & Johnson reacting that appears to be having problems.