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BioNTech shares at a crossroads: Is the good news fizzling out? – Chart analysis

In the United States, BioNTech shares are gaining in value early on the market after the company announced a China deal for its COVID-19 vaccine BNT162 today. Yesterday, the share of the Mainz-based company ended NASDAQ trading at $ 111.20, today the indication for BioNTech’s share price is currently at $ 114.17. At first glance it looks good, but in terms of charts, the biotech title still lacks the power to overcome an important resistance zone in a broad strip around the $ 115 mark. Yesterday it didn’t work either, despite a daily high of 116.26 dollars – but that was “only” at the upper end of this resistance zone.

After the two-day slide of the BioNTech share from the new all-time high of 131.00 dollars on Monday, reached 105.25 dollars and the confirmation of the important support zone here, the Mainz-based share price lacks another buy signal to be able to start again towards the all-time high. The technical chart signal marks for the biotech share remain as outlined last. It remains to be seen whether the China deal will fizzle out – and also with the next week Emergency approval of BNT162 in the European Union Investors on the stock market are already calculating.

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