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BioNTech share before EU approval for COVID-19 vaccine: is there still anything going on here?

On the NASDAQ, the BioNTech share wobbled vigorously yesterday, but did not fall and again it was the area around the 50-day line that slowed the bears and prevented major price losses. Yesterday’s intraday development with a daily low of 101.62 euros and a closing price of 106.43 dollars (+0.61 percent) above the important 105 mark is reminiscent of what happened on Wednesday: The stock was initially at 102.33 Dollar fell, but also went out of trade at $ 105.78 just above the important signal area at the 105 mark.

After the downward movement from the all-time high at 131.00 dollars to 101.62 dollars, this even opens up chart-technical chances of a trend reversal upwards for the biotech stock. There are still risks that positive developments such as the EU emergency approval for BioNTech’s COVID-19 vaccine BNT162, which is expected in the coming week, are already priced into the price. But the vaccine hype on the stock exchange has not yet subsided and the BioNTech share is currently encountering increasingly stronger support zones. It is possible that something will go for the bulls in terms of charts, but the risk of profit-taking in response to good news should not be neglected.

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