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$NVAX Pump and Dump

Written By: ChartChamp

February 29, 2024

I’ve been saying NVAX has a tendency to pump and dump, today NVAX dumped with a 28%+ decline. The Gavi settlement dispute is very big news for NVAX’s long-term growth, but COVID vaccination rates are still awful. I don’t see a reason to be bullish short term, but I think the stock is very undervalued and I think NVAX is approaching historically great buying opportunities within the new buy zone around $3.54 to $3.93. Keep in mind there is a lower price target at the orange trendline (around $2.70) for the best entry around there. There is no guarantees to go as low as $2.70, but that is a price target of interest if NVAX does trend down, and I would keep it in mind before considering any additional buys. For now NVAX is retesting this light blue resistance line as support and there could be a short-term bounce here.

ChartChamp socials: https://linktr.ee/realchartchamp

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