BioNTech skids - Analysis - 10-06-2022

BioNTech's stock (BNTX) tumbled 7.70% in the last session, or 12.46 points, settling at 149.27 points, with trading volumes surpassing 1.1 million shares, above 10-day averages of 800 thousand shares, amid the dominance of the downward correctional short-term trend, with negative pressure from the 50-day SMA.

Therefore we expect more losses for the stock, targeting the pivotal support of 135.13, provided the resistance of 189.00 holds on.

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Expected trend for today: Bearish