Novovax Buy Target: Chart Analysis

Shares of Novovax Inc (NVAX) continue to struggle as the Covid-19 vaccine maker has yet to get their vaccine approved. Being late to the party is causing investors to unload. While investors run, there is a technical chart level to watch. The $134.80 level is a major gap fill as well as technical support. This gives buyers a level to play. In addition, considering the world has yet to even make a dent in vaccinations, Novovax will absolutely have plenty of buyers for their vaccine. In addition, Novovax has a solid pipeline of other drugs in the works. The profits from the Covid vaccine will help them fund their other drugs. Ultimately, the technical level should be a solid buy point for investors looking to play the longer-term story.

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