Novavax has tested its multi-decade supply area of 240-260 with no monthly closes above 260 since 2001.
Last week we tried to break out above the weekly range between 173 and 225 but failed.
Many bulls are now trapped in poor positions from 240.
My expectation is if we break below the gap down on the daily(186) and test last weeks low (177)and close near or...
A falling wedge pattern has been developing for the last six months and may be ready to break out.
Short term swing targets 32,35,37 and breakout target 40. Stop under 25.
If there is strong continuation you may see a flag spike and channel to previous highs of 54,56 and 59 over the next couple of next years.
