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Biontech with a target of 225€ for June

已更新

Biontech had a run of 135% from April to May but also tanked up to -35% in a short period of time due to the Biden patent waive statement.

Nevertheless, the FUD is over, we are still in a bullish momentum and the fundamentals are looking better than ever.

Bear in mind, I'm drawing only charts here, eventhough my bullish forecast is also backed by the earning reports of Pfizer and Biontech itself. I won't post any numbers or calculations. Everyone has to do its own due dilligence. All I can say is, that the stock is undervalued at this prices currently.

My long term targets are also higher than 225€. But for now I go with 225€ for early June. I also think that the price will leap up from quarter reports to quarter reports.

To the chart:

After the big -35% drop we had a real strong buy back, which is showing still a bullish momentum.
Currently, we are forming a bullish pennant. If we measure the height of it and project it of a break out, we'll get a target nearby. 225€.
The yellow, orange and red wave are messured wave extentions which are all targeting the same price range nearby 225€.
We have not many resistances ahead of us currently. There is the last ATH of 185€ and at the same price range, the median line of the parallel channel. Breaking above it, would head us direclty to the upper boundary of the parallel channel at 225€.

Risk:

Forecasting a price target to a specific date is higly speculative and there is a high likelihood that I will be wrong.
The stock price is highly manipulated due to the overall sentiment and external news.
Eventhough the fundamentals are bullish, we could have a longer period of sidewards movement. That would change the outcome of the predicted target.
Do your own due dilligence!

註釋

As long as we are above the yellow trendline, we are still in a bullish momentum.

註釋

(This time an USD-Chart. Slighly different, but quit similar.)

For the folks of you who believes in Elliott-Waves, here is my current count.
Everything is intact and the Elliott-Waves is backing my bullish sentiment.

As long as we hold the lower line of the asc. triangle, we are still in a bullish uptrend. If we break below, we should consider a support at nearby 154€.

Overall, there is not much volume currently. Everyone is waiting for the real breakout either way.

註釋

A breakout either way is imminent!

If we break upwards, we'll see the old ATH pretty soon.

For a breakout downwards, we have to zoom out a little bit:
If you have a look of my old TA from January, you'll see that my predicted target of 169€ is reached (link in the related ideas). Since then, we are creeping on the upper boundary of the parallel channel.

Down:
- resistance of the parallel channel
- candle sticks showing some minor reversals
- low volume
- still no breakout after the 4th attempt of breaking 170€

UP:
- fundamentals are incredibly good
- on a lower timeframe we have still the asc. triangle
- momentum is still not over

If we drop below, nearby 155€ is a strong rebuy zone!

註釋

Like expected, we broke upwards with a fast spike.
The new ATH formed a parallel channel which functioned as a support with its median line already.
In addition, we have a new 4th Elliott Wave with a 1 to 1.1618 extention.

The target stays the same with 225€. Everything is intact.

註釋

We had a bigger drop of -18% the recent week.
It was a mix of chart analytics and "again" FED interest rate FUD. (the FED is bigger than every drawn line ^^)

That move will most likely delay our goal of 215€ for some weeks.
We are still bullish, eventhough there is a decline in momentum.
BUT, the fundamentals are looking better than ever and the first analyst starting to raise their target to 225€.

Bullish case in USD:

Bullish case in EUR:

Bearish case in EUR:

註釋

Looks like we are devoloping an inv. head and shoulders pattern:

Another new target is pointing at 225€!

註釋

After some slower correction, we finally broke out of the important resistance zone and are now heading towards my first predicted target.

What happends next?

Is a over throw likely? Pfizer will report their Q2 earnings on the 28th of July and Biontech on the 9th of August afterwards. We had serveral bullish news the recent weeks and the official china deal is imminent.