The current chart of the German biotech company BionTech might suggest that the price hits a stronger support zone, leading to a possible end of the ongoing downtrend. When viewing the trendline and Fibo retracement levels in the chart, a possible support zone between 60 and 64 USD emerges, giving a bit of confidence that we might see a switch into a sideways trend soon. RSI and MACD support this opinion, although they have not provided a clear signal (yet).
Results of the ongoing clinical trials (phase III) are planned to be released in October, which could lead for buyers and sellers to take a neutral position before the results are getting published.
This is not an invitation to trade this stock, just posting my opinion.
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