GM traders! Hope you had a nice Memorial Day Weekend.
NVAX gapping up +20% this morning, covid-19 vaccine play, phase 1 clinical trial news.
2 ways to play this:
1. look to short at premarket high and top of resistance area before the daily gap up, anywhere between 58.62 (PM high) and 61.50, target price is premarket low around 53 area. Risk 1: Reward 6
2. look to go long after breaking resistance area, and pull back. +80% gap fill within 2 days, enter near 60 area and target 80. Risk 3: Reward 20