Traders looking for a risky way to profit from higher influenza cases should turn to NVAX and SVA. These speculative ideas could be just what the doctor ordered.
NVAX broke above its long-term downtrend line (blue) last June, soaring 100% to $2.40 from $1.20. It’s been in consolidation mode during the past seven months and buyers have been reluctant to let the shares slip much below $1.80 (blue arrows).
Traders can enter around $2 and set a stop loss at $1.80. Initial resistance doesn’t occur until $2.40 and if the influenza story heats up, this stock could bolt to $3.60 - the next level of resistance - on nothing but pure speculative momentum.