BioNTech could break the wide range upward
Neutral Outlook: Trading in a wide range
Indicators: Neutral to Bullish
Trend: overall bullish
Stop-Loss: 140 EUR
Target: 220 - 240 EUR
BioNTech will get the approval or denial for it's vaccine (for the use for children at 12 or older) from the EMA today. This could boost the stock above the resistance at 169 EUR which would break the first range it's trading in. The second, much larger range is between the ATH (185 EUR) and 121 EUR. It's defined by an inside bar on the daily view. Considering the approval, the overall market and news flow for vaccines and the cheap valuation of BioNTech I would risk a shot here. Stop-Loss should be below the first range line at 140 EUR. Target is the area between the 38,2 and 61,8 Fib (220 - 240 EUR).
Let's see what happens.
Indicators: Neutral to Bullish
Trend: overall bullish
Stop-Loss: 140 EUR
Target: 220 - 240 EUR
BioNTech will get the approval or denial for it's vaccine (for the use for children at 12 or older) from the EMA today. This could boost the stock above the resistance at 169 EUR which would break the first range it's trading in. The second, much larger range is between the ATH (185 EUR) and 121 EUR. It's defined by an inside bar on the daily view. Considering the approval, the overall market and news flow for vaccines and the cheap valuation of BioNTech I would risk a shot here. Stop-Loss should be below the first range line at 140 EUR. Target is the area between the 38,2 and 61,8 Fib (220 - 240 EUR).
Let's see what happens.
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