BioNTech $BNTX making a breakout from flag pattern

Jul 16, 2021

BNTX is in a strong uptrend, and last week tested its 50 day MA and its bouncing really good. Today is in focus as the price broke out a continuation pattern with good volume. Also, the MACD is close to make a buy signal with a bullish crossover.

BioNTech has a IBD relative strength rating of 97 and is Rank #2 in its industry, just behind REGN which doesn't have good technicals.

With this buy signal I have a target sell on $266.50 with a 2:1 risk/reward ratio.

Jul 22, 2021

Trade closed: target reached

Sold my position with +16% profit.