The corona fear is once again rampant on the stock market and this affects all stocks – with stocks like BioNTech also those that could be among those profiting from the crisis. The Mainz-based company is currently working on the clinical study of its vaccine candidate BNT162 against the pandemic pathogen, the SARS-CoV-2 virus. So far, BNT162 has provided good data, but uncertainty on the stock exchange is growing. And so the paper continues to rush down today, after the past few days were marked by price losses and technical sell signals.
Further chart technical support between $ 79.38 / $ 80.70 and $ 77.40 / 78.00 will be torn from biotech stock on Wednesday. On the NASDAQ, the previous daily low is listed at 75.35 dollars, most recently for the BioNTech share 76.76 dollars were paid – a decrease of 8.42 percent on the previous day.
A look at the chart of the biotech stock shows another support zone above 74.56 dollars, which extends to the small gap at 75.00 / 75.65 dollars, which has not yet been closed. BioNtech’s share price initially rebounded upwards at this mark. If the technical chart signal zones are not reached, the shares become resistance levels. In the event of a break, further support zones below $ 74.56 would be expected in a broad zone below $ 71.53 at the latest. The lower Bollinger Band is also at $ 73.94, and the trend is rising.