- Novavax (NASDAQ: NVAX) stock price is down by 20.53% on the monthly basis and hits a 52 week low at $8.52
- Novavax Inc Q4 Earnings estimate remains negative at 0.92 and revenue estimate at $383.14M
- NVAX technical indicators are bearish but the RSI at 30 entered oversold zone
Novavax Inc (NASDAQ: NAVX) stock price is trading with the bearish cues and bears have created a fresh 52 week low which shows that the sellers are more active as compared to buyers but Q4 earnings are scheduled today which might give upside surprises to the long term investors. In the previous session NASDAQ: NVAX stock price closed at $8.67 with the intraday loss of 1.70% and market cap stood at $736.985M
Will Novavax see a rebound after the Q4 release?
Novavax Inc (NASDAQ: NAVX) stock price is in the downtrend and slipping down by forming lower low swings which clearly shows that the investors had lost confidence in the stock and seems doubtful for the future outlook of the company.
In the mid of December 2022, NVAX stock prices had witnessed a massive gap down and slipped below the important support level of $16.00 which had triggered the panic scenario and prices collapsed down 37% approx in the short period of time. Later, In the beginning of January, NVAX prices had shown a short term pull back and attempted to break out of the 50 day EMA but sadly prices were unable to hold the higher levels and again reversed in the downward direction. However, the Q4 earnings are scheduled today and if Novavax succeeds to beat the street estimates then we might see a wild short covering rally which can take the price above $10.00 mark.
The technical indicators of the Novavax stock like MACD has generated negative crossover indicating bearishness to continue for some more time and the price action is also indicating the same direction but the RSI at 30 denotes that prices have entered into oversold zone which can trigger short term relief rally from the lower levels.
According to the data in Yahoo Finance, Novavax Inc Q4 earnings estimate remains negative at 0.92 and the revenue estimate at $383.14M which shows that financials of the company are not up to mark and the business is struggling to become profitable.
Summary
Novavax Inc (NASDAQ: NAVX) stock price is in bear grip and no signs of recovery is visible. However, The Company is set to announce its Q4 earnings which may give some surprises for the long term investors and if they succeed to meet the estimates then we might see a wild short covering rally from the lower levels.
Technical levels
Resistance levels : $10.00 and $12.00
Support levels : $8.00 and $7.00
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/2023/02/28/novavax-inc-nvax-stock-prepares-to-react-in-the-q4-earnings/