Novavax turns early losses into gains - Analysis - 11-05-2022

Novavax's stock rose 1.13% in the last session, settling at 53.85, with trading volumes surpassing 13.8 million shares after reporting its first profitable quarter. 

Gains came as the support of 44.00 held on, but the main downward trend remains dominant, with negative pressure from the 50-day SMA.

Therefore we expect the stock to return lower, targeting the support of 26.35.

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Expected trend for today: Bearish