Sell signal, 6th week
Novavax stock: -1.9% as the sell-off slows but the lower highs stay intact
Sell signal, 6th week
Our view last week
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.
This week's summary
Novavax stock stays inside its channel of lower highs, five in a row from the 9.7 area down to 7.5. This week the drop slows compared with the 9.1% plunge seven days ago, but money flow keeps deteriorating and sellers still dominate three quarters of the volume. The Sell signal is in its 6th week, with the short over 17% in the money: this week's technical analysis says the decline is slowing, not stopping.
IQS Phase
84
in tension / maturity
Signal Strength
30
decline losing steam
Sizing
REDUCED
Ranking
#35 / 138
US stocks
Trade P&L %
+17.57%
from signal to date, no stop loss
Rank position
ranks 35th among the 138 sell signals for US stocks in our ranking, with a signal strength of 30 out of 100.
Sector context
SectorHealth Care
Benchmark ETFXLV
Sector regimein positive regime
Performanceweekly -0.01% · monthly +1.89%
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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