Breakout for Novavax, Inc

Biotech Novavax Inc. getting some attention recently.

What is getting my attention is that this chart is breaking out of a HUGE +8 year base. Check the monthly candle 10 year chart for nvax. The implied measured move is added to the horizontal breakout line.

There was a breakout of the slanted trend line last month, but I prefer playing horizontal breaks. I believe they add value to the setup and the following  breakout move.

nvax_m

The 5 year weekly candle chart shows the step for both breakouts. Not much noise here. A+ material.

nvax_w

The zoom in on the 1 year daily candle chart shows a pullback after the last breakout. Not unexpected.

nvax_d

The target is the 15 mark. If your are not already in, and the monthly candle has a convincing close above the 8 level, this could be an opportunity to enter.

Remember to use sound risk and money management protocols with all your trades. Time to go check my “How To”.

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