BioNTech price tries to vent off oversold saturation - Forecast today - 10-04-2024

BioNTech’s stock price (BNTX) rose in the intraday levels while recouping some recent losses, as it also tries to vent off oversold saturation in the RSI with positive signals coming out of it.

The main downward trend is dominating in the medium term with the stock trading alongside the secondary short-term trend line, with negative pressure from the 50-day SMA. 

Therefore we expect the stock to return lower and target the pivotal support of $88.00, provided it settles below the resistance of $94.90. 

Trend forecast: Likely Bearish