More and more analysts are sure Brent oil will surpass $100 a barrel. So how heavily will oil move the markets, and what will the direction of the movement be? Let's find out!
Biotech Stocks Surged: Moderna, BioNTech, Novavax
2021-11-08 • Updated
The biotech industry has always had a high potential to grow, but the pandemic has boosted this sector even more and as a result, attracted many new investors especially vaccine producers. Let’s go through the top stocks of the biotech industry.
Moderna surged on the announcement that its Covid-19 vaccine was granted provisional registration by Australia's administration. Moderna is planning to supply as many as 25 million doses of its vaccine to the Australian government by 2022.
However, this company has a unique feature. It has joined one of the most credible stock indexes in the US – the S&P 500 index. It helped the stock to rise even more! Check our recent article to see what happened with Tesla when it joined S&P 500.
Moderna has almost reached the psychological mark of $500.00, but as it often happens, it has failed to cross such an important level on the first try. We can expect that sooner or later, it will break this resistance level and rally up further to the next round number of $550.00. Support levels are $400 and $350.00.
Pfizer and BioNTech
BioNTech and Pfizer have recently published better than expected earnings results for the second quarter. The companies claimed they can produce up to 3 billion Covid-19 vaccines this year, with capacity increasing to 4 billion doses in 2022. Pfizer is getting closer to the $50.00 level, while BioNTech has reversed down from $463.00.
Meanwhile, Novavax has gained from Barron’s article. It was written that the New York State Common Retirement Fund, the third-largest public pension in the US, has increased its stake in Novavax and other vaccine stocks. However, the vaccine maker claimed that it would delay submission of its Covid-19 vaccine to the Food and Drug Administration for emergency use authorization until the fourth quarter.
The breakout above the $240.00 resistance level will push the stock up to the high of April 27 at $260.00. After that, the stock price may jump to an all-time high near $320.00. Support levels are the 100- and 200-day moving averages of $190.00 and $170.00, respectively.
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Why? Despite the fact that analysts and experts have been predicting the US stock market crash during pash year S&P500 doubled since March 2020 crush and NASDAQ is also gaining permanently…
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A comparative examination of the strength of the US-Dollar often gives tangible insight into the direction of Gold (XAUUSD). The chart above indicates the expectation of a bullish price reaction from the demand zone
The US Dollar has been remarkably sluggish for the past few weeks despite being within a distinct Demand zone. My expectation of a springing rebound off the demand zone has not exactly played out yet, however, the zone remains unbroken.
For those who may be unfamiliar with Price Action trading, the horizontal arrows represent areas where the market structure was broken. As you can see in the scenario above, price broke below the previous low at the two marked instances