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BioNTech share: The emotions are high – but what’s next? – Chart analysis

The BioNTech share fell significantly yesterday. Based on the closing price, the biotech stock on the NASDAQ lost almost 15 percent to 108.27 dollars. The share price of the Mainz-based COVID-19 vaccine developer is far from a “crash”, as can be read elsewhere. As a reminder, BioNTech’s share price was still quoted at $ 54.10 at the beginning of September – despite yesterday’s losses, this has doubled in just over three months. Against this background, profit-taking describes yesterday’s events with BioNTech shares much more aptly than the word “crash”. Just leave the unnecessary emotions aside …

We had warned several times in the past few days that precisely such a situation could arise after the share price of the biotech company lost momentum in the $ 129.90 / $ 131.00 zone. Then yesterday the corrective movement, which gained significant momentum during the day and only stopped at $ 105.25. The fact that the profit-taking was ultimately clear was also due to various technical chart sales signals that arose when BioNTech’s share price fell below chart technical support. “Even a slide under the potential first supports in the area at 123.29 / 124.91 dollars and 120.75 / 121.80 dollars could then cause technical difficulties,” it said yesterday morning, well before the NASDAQ start of trading in 4investors- Chart check. The supports between $ 112.50 and $ 116.58 were then cleared away at the same time.

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