Novavax’s stock price (NVAX) fell in the intraday levels amid positive signals from the RSI while gathering positive momentum to rise anew, while also being buoyed by piercing the secondary downward trend line previously in the short term, with support from the 50-day SMA.

Therefore we expect the stock to return higher, targeting the resistance of 6.72, provided the support of 4.34 holds on.

Trend forecast: Likely Bullish 

Rivian Automotive’s stock price (RIVN) fell in the intraday levels after bumping into the resistance of the secondary downward short-term trend, with ongoing negative pressure from the 50-day SMA, while the RSI reached overbought levels. 

Therefore we expect more losses for the stock, targeting the support of 10.00, provided the resistance of 15.33 holds on.

Trend forecast: Likely Bearish

Illumina’s stock price (ILMN) rose in the intraday levels, amid the dominance of the upward correctional wave in the short term, while touching the resistance of the 50-day SMA, amid the dominance of the main downward trend in the medium term, with negative signals from the RSI after reaching oversold levels.

Therefore we expect the stock to return lower, targeting the first support at 127.37, provided the resistance of 141.60 holds on. 

Trend forecast: Likely Bearish 

Western Digital Corporation’s stock price (WDC) fell in the intraday levels, while trying to vent off overbought saturation in the RSI, with negative signals streaming out of them, as the stock gathers momentum to rise anew, amid the dominance of the main upward trend in the medium term while trading alongside the secondary short-term trend line, and with positive pressure from the 50-day SMA.

Therefore we expect the stock to return higher and target the main resistance at 70.00, provided it holds strongly above 60.55. 

Trend forecast: Likely Bullish