Resistance

April

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Novavax Inc., NVAX stock price looks ready for a strong comeback and may break out of the consolidation phase.</a> </li> 
 <li> <span>2</span> <a>NVAX share price is trading below 20, 50, 100 and 200-days daily moving averages.</a> </li> 
 <li> <span>3</span> <a>Novavax Inc., (NASDAQ: NVAX) stock has declined around 32.67% year to date.</a> </li> 
</ul> 
<p>Novavax’s NVAX stock price may rebound and break out of the horizontal range-bound area over the daily time frame chart. For Novavax shares to regain momentum and return towards the upper limit of the consolidation phase, it’s essential to draw the interest of buyers. Conversely, there’s been an effort from sellers to drive NVAX shares towards the lower boundary of this trading range. Investors who hold Novavax shares should be patient while anticipating directional changes.</p> 
<p>NVAX stock price was at $7.13; it shed 1.52% of its market capitalization during Wednesday’s trading session. Nevertheless, it’s worth noting that the trading volume at press time is below the typical average, signaling a need for an increase in volume to support buyers’ interests.&nbsp;</p> 
<p>This surge in trading volume is vital for propelling Novavax stock price towards its potential rebound and facilitating a breakout from its current confines. The collaboration between increased trading activity and buyer engagement could be the catalyst required for Novavax’s stock price to regain momentum and achieve a successful breakout.</p> 
<h2 class="wp-block-heading" id="strong-will-nvax-stock-bounce-back-strong"><strong>Will NVAX Stock Bounce Back?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/xI53PrrKrpdYWEJMNoU9444Skn-dN0Njftr9fqgftfZgY7rRR82hoyzlqWER9O-Jz2izWFtYlfPsiEfHM5byIWmDqvYns8UkUEM4j29zGi66C90t1DF9037aNcgFSQdj7zhNurqyQQUh5JWPwjXdhg" alt="Novavax Inc (NASDAQ: NVAX): Will NVAX Stock Jump For Breakout?"> 
  <figcaption class="wp-element-caption">
    Source: NASDAQ: NVAX by <a href="https://www.tradingview.com/x/ZiREIbv7/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>Since April 2023, Novavax stock has remained in a consolidation phase, confined within a horizontal range-bound area. Given the duration of this consolidation, the current juncture might present an opportunity for Novavax’s NVAX stock price to finally break out from this pattern. For this to occur, active participation from buyers is crucial, as their engagement would not only drive trading volume but also propel the NVAX stock price towards the upper end of its price range.</p> 
<p>It’s important to note, however, that the observed volume change is currently below average, underscoring the need for an increase in trading activity that favors buyers. This enhanced trading volume, combined with increased buyer interest, could potentially serve as the impetus for Novavax stock price to initiate its long-awaited breakout.</p> 
<p>Meanwhile, an additional observation to consider is that the NVAX share price is currently positioned below the 20, 50, 100, and 200-days moving averages. This downward positioning highlights the ongoing challenges the stock is facing.&nbsp;</p> 
<p>Thus, while the potential for a breakout exists, the interplay between buyer involvement, trading volume, and the stock’s relationship with its moving averages will determine the viability of a successful upward shift in Novavax’s stock price.</p> 
<p>Technical indicators suggest <a href="https://www.thecoinrepublic.com/2023/04/24/nvax-stock-price-prediction-novavax-inc-falsely-defying-gravity/" target="_blank" rel="noopener noreferrer nofollow">NVAX stock price</a> is in a downtrend. Relative strength index (RSI) and moving average convergence divergence (MACD) both confirm the downward momentum of Novavax stock.&nbsp;</p> 
<p>RSI was at 41 and is heading towards the oversold territory. The MACD line is below the signal line after a negative crossover. Investors in Novavax Inc., (NASDAQ: NVAX) shares need to wait for any directional change over the daily time frame chart.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong>&nbsp;</h4> 
<p>The NVAX stock price has the potential to recover and move beyond its current range, as seen on the daily chart. However, it’s important to observe that the current trading volume for NVAX is lower than usual, indicating a requirement for higher volume to back buyer enthusiasm. The downtrend emphasizes the persistent difficulties that the stock is encountering. The technical indicators confirm the downtrend in NVAX shares.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> $7.05 and $6.85</li> 
</ul> 
<ul> 
 <li><strong>Resistance Levels:</strong> $8.15 and $8.80</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.</p>

Novavax Inc (NASDAQ: NVAX): Will NVAX Stock Jump For Breakout?

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