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Regulatory filings show hedge funds sold millions worth of shares in BioNTech ($ BNTX) in Q3. As a result, sellers are missing out on big profits this month from the moment it was announced that the Moderna and BioNTech vaccine candidate is more than 94,5% effective. With this result, the share increased by 26%, while Moderna’s share increased by 28%.

Investors who have invested in BioNTech shares don’t have dull times. On November 9, 2020, news of the development of a Covid-19 vaccine candidate spiked, pushing the price up to $115. It sold strongly again shortly after, and the price difference between $92.20 and $114.09 disappeared like snow in the sun. At its low point, the price fell to $86.65 last Tuesday. The 50-day average of $85.41 has therefore not yet been reached. Yesterday, the price rose for a second time this week, this time up 4.04% which peaked at $92.46.

This does not mean that the risk of exceeding the 50-day limit seems to be over. The downtrend since the high on November 9 has also not been broken. If the bulls are able to remove the threat, it must first climb up to $97. The goal here is to close the gap that occurred between $103.37 and $97 on Monday. If successful, there is a chance that the stock will go skyrocket again up to $115. If the stock falls back to the 50-day average of $85.41 and goes even below it, further sales should be expected, except for the high on July 1 of $79.38. A loss of support should test the October 28 low at $75.34.

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By Omar