BioNTech rises cautiously - Analysis - 10-05-2022

BioNTech (BNTX) climbed 3.05% in the last session, settling at 140.32, after the company reported a profit of 3.7 billion euros, with earnings surging  to 6.38 billion euros due to overwhelming sales of the Covid 19 vaccine.

The stock is moving alongside the downward correctional short-term trend line, while suffering pressure from the 50-day SMA, with negative signals from the RSI, while trading volumes surpassing 2.5 million shares.

Therefore e expect the stock to return lower and target the pivotal support of 121.32.

Expected trend for today: Bearish