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BioNTech shares with buy signals – is the rally coming and the application for approval now? – Chart analysis

On the NASDAQ, the BioNTech share managed to break out of the narrow chart-technical trading range of the previous days yesterday. In the course of the day, the biotech share was able to send new buy signals and climb to $ 91.13. After a subsequent clear confirmation of the support zone at 88.30 / 88.50 dollars, which had previously been overcome, it went noticeably up again at the end of trading and with 90.69 dollars and almost 4 percent daily gain from trading.

It is worth taking a look at the intraday chart of BioNTech shares from yesterday, Wednesday: For hours the share price of the Mainz biotech company broke above the chart hurdle at 88.30 / 88 with lows between $ 88.40 and $ 88.64 , $ 50 confirm. Previously, the share of the company, which is about to complete the development of a vaccine against the pathogen of the corona pandemic together with partner Pfizer, was stuck in this zone for three days and did not exceed $ 88.50. The intraday development on Wednesday then clearly confirmed this technical buy signal.

But it is also clear: In addition to chart-related aspects, BioNTech’s share price will primarily be based on the upcoming news on the vaccine program. Depending on how these turn out, there should be strong price fluctuations. The news on the data of the final clinical study series is expected these days. If all goes well, BioNTech and Pfizer may want to apply for approval in the US as early as the week after next. In Europe, the rolling review process for approval is already running.

Back to the chart technique of the BioNTech share: Between 88.30 / 88.50 dollars and 89.84 dollars and at 91.55 / 92.24 dollars the first technical chart hurdles for BioNTech’s share price can be seen. The first two zones have been overcome, on the third the paper did not advance any further yesterday. If the biotech share breaks out above this zone at 91.55 / 92.24 dollars, the most recent local top at 95.44 / 97.29 dollars would be the possible target before further buy signals could go towards 105 dollars . Initial support should now be around $ 88.30 / $ 88.50 as well as at $ 83.05 / 83.18 and $ 79.22 / 80.74 before further sell signals for the BioNTech share in the direction of the strong technical support around the 75s -Might press token.

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