Sell signal in management, week 4
Novavax drops 9.1% as sellers dominate 99% of the tape
Sell signal in management, week 4
Our view last week
Novavax shares drop 12% this week, wiping out last week's bounce and pulling the stock back to the 8.2 double bottom. In this week's technical analysis signal strength climbs to 59 out of 100 — "decline starting to make lower lows" — while contracting volume and sellers dominating the last bar say the selling pressure is back. Our model flags trading as not recommended.
This week's summary
This week's 9.1% plunge pulls Novavax shares back near their 7-day lows, with sellers dominating 99% of the volume on the last bar. It's a continuation of the decline already seen last week, when the stock shed 12% and slipped back to the 8.2 double bottom. In this week's technical analysis the ADX is losing conviction and momentum has turned negative, but the decline shows no sign of fading yet: the short is more than 15% in profit.
IQS Phase
79
in tension
Signal Strength
94
downtrend making lower lows, pace holding
Sizing
STANDARD
Ranking
#13 / 141
US stocks
Trade P&L %
+15.99%
from signal to today
Rank position
ranks 13th among the 141 sell signals for US stocks in our ranking, with a signal strength of 94 out of 100.
Sector context
SectorHealth Care
Benchmark ETFXLV
Sector regimein positive regime
Performanceweekly +0.92% · monthly +6.01%
NVAX belongs to the health care sector (reference ETF XLV). The sector is classified in positive regime according to our weekly reading.
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