Vaxart (VXRT) – signs of potential breakout 4-hour for NASDAQ:VXRT by day0

Vaxart is a clinical-stage biotechnology company developing a tablet-based vaccine for pneumonia. The company’s stock has been undervalued for some time, but it is starting to show signs of a breakout. The stock is up over 30% in the past month, and it is trading above its 50-day moving average.

Overview

Vaxart (VXRT) stock has been on an upward trend for the past 30 days. The stock has gained over 30% during this period. The company’s recent earnings report was better than expected, and analysts have revised their earnings estimates upwards. This has led to increased investor interest in the stock.

Key Trends

Upward trend: The stock has been on an upward trend for the past 30 days.

Rising earnings estimates: Analysts have revised their earnings estimates for VXRT upwards.

Increased investor interest: The company’s recent earnings report was better than expected, and this has led to increased investor interest in the stock.

News Catalysts

Vaxart presents positive data from Phase 2a trial of oral tablet vaccine for COVID-19: This news was well-received by investors and helped to boost the stock price.

Vaxart signs licensing agreement with Merck for development of oral tablet vaccine for influenza: This agreement is a major milestone for Vaxart, and it could have a significant impact on the company’s future earnings.

Technical Analysis

Support: The stock has support at $6.00.

Resistance: The stock has resistance at $8.00.

RSI Analysis

The RSI for Vaxart (VXRT) is 57.66. This is considered to be in the overbought territory. An RSI above 70 is typically considered to be overbought, while an RSI below 30 is typically considered to be oversold.

Overbought conditions can be a sign that a stock is due for a pullback, but they can also be a sign that the stock is about to continue its upward trend. Investors should watch the stock closely to see if it can break out of its current trading range.

Here are some factors to consider when evaluating the RSI:

The overall trend of the stock: If the stock is in an upward trend, an RSI reading of 70 may not be as concerning as it would be if the stock is in a downward trend.

The volatility of the stock: More volatile stocks tend to have higher RSI readings than less volatile stocks.

The overall market conditions: If the market is in a downward trend, an RSI reading of 70 may be more concerning than it would be if the market is in an upward trend.

Conclusion

Overall, the trend for Vaxart (VXRT) stock is positive. The stock is on an upward trend, and there are some signs that it may continue to rise. Investors should watch the stock closely to see if it can break out of its current trading range.