The following is a Novavax Inc ( NVAX ) stock technical analysis for April 28, 2009Novavax Inc. Support & Resistance Levels - 4/28/09
Resistance Levels: $3.15, $3.50, $3.88, $4.35-$4.38
Support Levels: $2.50, $1.93
As you probably know, Novavax ( NVAX ) stock is rising due to the swine flu outbreak. From a technical analysis point of view, NVAX has solid support at the $2.50 level. NVAX closed just above this level on Monday and is now rising back near $3 in pre market trading. There is some nice resistance between $3-$3.15 but then nothing until around $3.30 and then $3.50. If the $3.88 high from Monday is broken, I think NVAX could probably trade up to $4.33-$4.38 area which is a major resistance level. You have big funds that have been trapped in this stock for years waiting to unload in the $4's. It would take a huge outbreak in the swine flu or an actual announcement on a drug to get through this level. Three years ago NVAX was trading at $8 on avian bird flu fears. A close below $2.50 would most likely take NVAX stock back to the 200 day moving average. Come Join the NVAX discussion.
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