BioNTech emits more signals of weakness - Analysis - 16-03-2023

BioNTech SE's stock (BNTX) declined in the intraday levels, amid the dominance of the downward short-term trend, with negative pressure from the 50-day SMA, while the RSI reached overbought levels compared to the stock's movements, hinting at negative divergence. 

Therefore we expect more losses for the stock, targeting the pivotal support of 118.30, provided the resistance of 138.30 holds on.

Expected trend for today: Bearish