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BioNTech share: The countdown is on … – Chart analysis

The tension is rising: BioNTech and Pfizer want to announce news about the ongoing large and final clinical trial with the COVID-19 vaccine candidate BNT162 this month. On the stock exchange, problems with the competition and the wave of sales in the overall market have recently caused depressed prices for BioNTech shares – actually “stock market crazy” that the company’s share was beaten down in the wake of the corona pandemic fear, which was one of the promotes the most advanced vaccine projects against the SARS-CoV-2 virus – we reported. However, the market fell across the board and other corona vaccine developers such as Moderna shares came under pressure. So nothing BioNTech-specific …

… and anyway the bearish spook of the last few days seems to be over and investors are speculating again on a success of BNT162, especially BioNTech has just re-confirmed that the vaccine does not raise safety concerns. The BioNTech share found the bottom intraday on Wednesday and Thursday just above the 85 dollar mark and rose noticeably from there on Thursday. At $ 90.38 it was only 4 cents below the daily high and 4.05 percent plus on a daily basis from trading. BioNTech’s current price indication in the USA, to be enjoyed with a bit of caution at the early hour on the other side of the Atlantic, is $ 93.45, which is quite a bit above yesterday’s price level.

After the BioNTech share was able to catch up at the 85 mark and confirmed the technical chart support zone above 84.10 dollars, the signal mark just above it at 87.50 / 88.30 dollars was overcome again. A further buy signal emerges before the trading day with the jump over the trading obstacle at 90.05 / 90.40 dollars. This could move the focus back towards Wednesday’s high at $ 95.44 and the hurdle directly above at $ 96.09 / 97.82. Here and at the $ 101.15 hurdle, the last obstacles are below the BioNTech share’s all-time high, which is quoted at $ 105.

A stable price increase above this would be an important buy signal for the biotech share, which will be strongly driven by the Corona news in the coming weeks. The data from the clinical study will initially be decisive in this regard. Depending on how these turn out, strong price movements in one or the other direction can be expected for the BioNTech share. The countdown to the decision is on …

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