The current chart of Novavax (30-08-2020) suggests that the ongoing downtrend might find an end soon.
Fibonacci retracements suggest that either the current or the next level (flagged in the chart) might provide a point of support.
While the OBOS indicator gives an "oversold" signal, the MACD and RSI suggest to wait a little longer, it might be that the current price still goes down a bit before buyes might jump in again.
Trade idea, note to myself: Wait until either the current price level or the next Fibo retracement level gets a confirmation by a second closing candle. Do NOT go long before, wait a bit.
Fibonacci retracements suggest that either the current or the next level (flagged in the chart) might provide a point of support.
While the OBOS indicator gives an "oversold" signal, the MACD and RSI suggest to wait a little longer, it might be that the current price still goes down a bit before buyes might jump in again.
Trade idea, note to myself: Wait until either the current price level or the next Fibo retracement level gets a confirmation by a second closing candle. Do NOT go long before, wait a bit.
Trade closed manually:
Idea closed, I was wrong
Trade closed manually:
I went long and actually dropped out today with 10% gain. Good for me!