NVAX Stock Price: Novavax, Inc. keeps the $143.00 mark so far

Novavax, Inc. (NASDAQ: NVAX) trades around Thursday’s close near $143.00.
Progress on its vaccine candidate remains in centre stage.

Pablo Piovano FXStreet

Shares of biotech Novavax, Inc. (NASDAQ: NVAX) remain mostly flat near Thursday’s close just above the $143.00 mark during the premarket activity.

Choppy week for (NASDAQ: NVAX) so far, which saw weekly gains advancing to the area past the $155.00 level at the beginning of the week, embarking into a corrective downside soon afterwards.

The US biotech stays in the centre of the debate as investors continue to monitor the progress on its COVID-19 vaccine candidate NVX-CoV2373, sharing the run up to finally develop an efficient vaccine with fellow competitors Moderna, Inc. and Pfizer, Inc.

So far this year, (NASDAQ: NVAX) is already advancing nearly 3,500%.

Novavax Stock Forecast

As of writing, (NASDAQ: NVAX) is losing 0.09% at $143.13 and faces the next support at $112.51 (monthly low Aug.11) and then $93.49 (low Jul.9). On the other hand, the next hurdle lines up at $155.75 (high Aug.17) seconded by $189.40 (high Aug.5).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

AUD/USD: Next upside target comes at 0.7000

AUD/USD has advanced further, clinching its third consecutive day of gains and trading at shouting distance from the key 0.7000 threshold on Tuesday. The widespread improved sentiment in the risk complex helped the Aussie maintain its upside momentum, while the fresh selling impulse in the Greenback also contributed to the move.

USD/JPY rises back above 158.00 despite hawkish BoJ outlook

USD/JPY rises back above 158.00 in the early European morning on Tuesday. The pair strengthens as the Japanese Yen fails to find any inspiration from hawkish BoJ expectations and looming intervention risks. Meanwhile, geopolitical uncertainty and elevated US bond yields keep the US Dollar near its YTD high despite receding October Fed hike bets. This, in turn, helps the pair stay supported.

Gold stays firm; looks at $4,200

Gold builds on Monday’s marginal bounce, although it struggles to reclaim the key $4,200 mark per troy ounce so far on Tuesday. The yellow metal’s advance comes on the back of the fresh downside momentum in the US Dollar in tandem with retreating US Treasury yields across the curve.

Ethena Price Forecast: ENA corrects as Ether.Fi launches stablecoin on the protocol

Ethena (ENA) trades near $0.24000 on Tuesday amid growing technical weakness. The Ethereum Layer-2 token has shed some of its recent gains, which peaked at $0.2946 on September 27, reinforcing profit-taking and buyer exhaustion. An extended sell-off would bring ENA to test the psychological support at $0.2000 and key technical levels further down.

Japanese Yen nears 158.00: Two analysts agree it's bullish, and disagree on how far the breakout goes

The JPY is drifting near 158.00 against the USD ahead of a busy week of Japanese data and a still-unclear BoJ timetable. The two most recent FXStreet analyses agree on the direction, but they disagree on the target and the mechanism.

Eurozone inflation just hit 3.8%, its highest in three years. This chart shows why the ECB can’t simply hike its way out

The ECB would normally have a relatively straightforward answer to inflation running almost twice its target: raise interest rates. But these are not normal circumstances. This time, the bond market is already doing part of the tightening for it, leaving the ECB facing an increasingly difficult dilemma.