July 24, 2020, 10:27 am EDT
2020 Actual Trade: BNTX +73% Profits
Biotech or pharmaceutical companies are definitely #1 stock groups to look for potential winners during COVID-19 pandemic. As we did Moderna (MRNA) with +74%, we got another +70% profit on BioNTech (BNTX).
- Noticed BNTX run-up from 30-100 in 4 trading days (March 13-18)
- Began tracking its consolidation from March to June
- Identified solid consolidation process with support about 48
- Breaking out 52 06/22 triggered buy signal
- Series good news from its testing results, fast track approval from FDA and Trump Fed funding, BNTX quickly ran through 100
- Took profits +73% within a month
