Just noticed this after re-looking on my chart. I bit some fingers cursing not getting into it at 3-4, because 4.50 - 5 is a place the stock traded a long time for and likes that range. But it held the whole market slump and reload quite good...too good. There is a negative divergence on CCI, Other indicators on tops, and earnings looming soon. Also it is closer to the resistance of a trading range it followed for some time.
With this, other Biotechs are doing quite well, IBB does exceptionally well, and should any news on Ebola appear NVAX may get another raise. Otherwise, seems to be setting up for a corrective action. Even though the whole world today is lifted by Japan, stocks is in red. Some on stocktwits say 6 is in play next week. If it is, i imagine the technicals are going to be pretty overbought...given that CCI and RSI have already spent some time in that territory - and it is not so often they spend a long time there.
With this, other Biotechs are doing quite well, IBB does exceptionally well, and should any news on Ebola appear NVAX may get another raise. Otherwise, seems to be setting up for a corrective action. Even though the whole world today is lifted by Japan, stocks is in red. Some on stocktwits say 6 is in play next week. If it is, i imagine the technicals are going to be pretty overbought...given that CCI and RSI have already spent some time in that territory - and it is not so often they spend a long time there.