NVAX - on the weekly chart it broke the uptrend line from March lows in the past 2 weeks, but on low volume, so I am not emphasizing that too much. On the daily chart we have a triangle with lower uptrend from the second October low to November low. But upper downtrend trendline can be drawn two ways - first way is from September 7.50 high through late October high . The second way is from bottom of mid Sept gap to October high. We broke out of the first triangle near the apex on low volume and that ended up with a whimper. We are still in the second triangle, but again the apex of the second one is fast approaching and I suggest disregarding it as soon as Tuesday. On Friday we bounced a little from the uptrend, but not impressively so far (low volume). My best guess is that in the absence of news it would morph into a rectangle 3.30-4.50 with 3.70-4.10 congestion area in the middle of it and at least 3.70 or lower coming first. Otherwise if it goes up, it would need to get through 4.10-4.20 area on high volume that would target 4.50 quickly and a break above 4.50 would target the gap fill of 5.50.
