March 30, 2021, 6:51 pm EDT
The resurgence of COVID-19 Cases (BNTX)
Biontech (BNTX) jumped +9% after a strong earnings report on the projection of $11.5 billion COVID-19 vaccines for 2021. Furthermore, resurgences of COVID-19 cases in Brazil and India could mean more demand for vaccines than ever.
Technically, a mega convergence with about 6 months duration gave an ideal entry point for BNTX. If BNTX can cross 110 with a breakout on high volume, it offers an opportunity to participate in the rally again. Sell-stop is 94.