Novavax retests upward correctional trend line - Analysis - 26-09-2023

Novavax's stock (NVAX) rose in the intraday levels, with positive signals from the RSI after reaching oversold levels, as the stock vents off some oversold saturation, while retesting the upward correctional trend line that was breached previously, amid negative pressure from the 50-day SMA. 

Therefore we expect the stock to return lower, targeting the pivotal support of 5.60, provided the support of 7.00 was breached. 

Expected trend for today: Likely Bearish