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BioNTech share: Has it got too hot or is something else going on? – Chart analysis

Done: The BioNTech share has reached a new all-time high. In the COVID-19 vaccine hype, BioNTech’s share price on the NASDAQ peaked at $ 124.91 yesterday and closed trading at $ 124.24 – almost 13 percent higher than on Friday. Price drivers were, on the one hand, the buy signal at the chart resistance zone at 112.50 / 115.00 dollars, which should be known to everyone who regularly reads the 4investors chart checks for the biotech stock here. On the other hand, there was the prospect that BioNtech and Pfizer in Great Britain The COVID-19 vaccine BNT162 should receive approval this week, positively noticeable in the share price.

The way to the top is opened for BioNTech’s share price with yesterday’s technical buy signal. The primary upward movement in biotech stock is intact, with the price rally over the past few days being extremely steep. This – together with the high volatility of the BioNTech share – makes the situation prone to profit-taking and further rapid changes of direction. Traders should keep an eye on this as a current general risk, but it can quickly become more concrete, as the last few days have shown time and again – for example after November 9th.

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