Market Overview

Novavax Attempts To Clear The $7 Hurdle

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Novavax, Inc. (NASDAQ: NVAX) shares are trading higher by $0.68 (11 percent) at $6.95 in Tuesday's session. The only relevant news out on the issue is an article in the The Cerbat Gem highlighting the average Buy rating by Wall Street analysts.

After a higher open, it retreated only $0.02 to $6.38 before resuming its move higher. So far, it has reached $7 and is not far off that level. The issue has made multiple attempts to get into the $7 handle since June 7. Also, it made a pair of highs at that area in early January,

If the rally continues, there may additional resistance at the pair of highs from January 8 ($7.16) and January 9 ($7.18).

 

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