- Novavax Inc (NVAX) Stock price has been continuously thriving to surge towards the upper bond.
- The Gaithersburg, Maryland-based American biotechnology business Novavax, Inc. creates vaccinations to fend against deadly infectious illnesses.
- Weak formations of NVAX stock price over the daily time frame chart.
Novavax Inc (NVAX) Stock price needs to attract an enormous amount of buyers in order to rise from its own ashes at 2020 lows. The consolidation phase of NVAX stock is visible near the 2020 lows over the chart. However, trading volume needs to be increased for NVAX stock to register its recovery phase over the daily price chart. Novavax Inc share price must accumulate investors to maintain the required confidence over its functioning. However, the contribution rate of Novavax Inc in the biotechnology department has been a great plus for NVAX stock price.
NVAX stock price is currently approximated at $10.40 and has lost 1.14% of its market capitalization in the past 24-hour period.
NVAX stock price has been trading at a lower level from the year 2020 it is coming from $236 from January 2022. NVAX stock has dropped by 94% throughout 2022 and may reach 100% by the end of 2022. This is a matter of discussion as the hard times have continued for NVAX stock since the start of 2022. Meanwhile, NVAX share price has dropped below 20, 50, 100 and 200-days Daily Moving Average.
Technicals for Novavax Inc (NVAX) Stock Price
NVAX stock price has declined the most through the year 2022 over the daily price chart. Now is the time for the NVAX share to increase its price from 202o lows towards higher levels. However, technical indicators suggest the consolidation phase of NVAX stock price.
Relative Strength Index showcases the sideways momentum of NVAX stock inside the oversold territory. MACD exhibits the downtrend momentum of the NVAX stock price over the daily price chart. The MACD line is below the signal line now NVAX stock investors need to wait for the MACD line to move towards the signal line for a positive crossover.
Summary
Novavax Inc (NVAX) Stock price needs to attract an enormous amount of buyers in order to rise from its own ashes at 2020 lows. The consolidation phase of NVAX stock is visible near the 2020 lows over the chart. NVAX stock has dropped by 94% throughout 2022 and may reach 100% by the end of 2022. However, technical indicators suggest the consolidation phase of NVAX stock price. The MACD line is below the signal line now NVAX stock investors need to wait for the MACD line to move towards the signal line for a positive crossover.
Technical Levels
Support Levels: $9.55 and $7.00
Resistance Levels: $20.00 and $25.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/12/21/will-novavax-inc-nvax-stock-rise-from-its-ashes-at-2020-lows/