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Possible Bearish Inside Day Candle Pattern Detected for Novavax Inc (NASDAQ:NVAX)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Novavax Inc (NASDAQ:NVAX) based on the price action in the company's shares. Today's price range of $5.61 and $5.99 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Novavax Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Novavax Inc share prices have moved between a 52-week high of $7.90 and a 52-week low of $0.02 and are now trading 29,850% above that low price at $5.99 per share. Over the last five market days, the 200-day moving average (MA) has gone up 4.0% while the 50-day MA has declined 1.4%.

Novavax Inc (NASDAQ:NVAX) is currently priced 34.4% above its average consensus analyst price target of $3.93. Novavax Inc shares have support at the 50-day moving average (MA) of $4.98 and additional support at the 200-day MA of $1.82.

Novavax, Inc. is a clinical stage biotechnology company. The Company creates novel vaccines to address a broad range of infectious diseases worldwide using proprietary virus-like particle (VLP) technology.

SmarTrend is tracking the current trend status for Novavax Inc and will alert subscribers who have NVAX in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle novavax inc

Ticker(s): NVAX