Shares of BioNTech rival Moderna have already reached a potential technical double bottom, but the Mainz company’s share price still lacks definitive pro-cyclical buy signals. However, the technical starting point of these two biotechnological strains is similar. The big question: Can BioNTech stock follow suit? On the charts, strong barriers in the $183.27 / $19 .61 area remain decisive for BioNTech (WKN: A2PSR2, ISIN: US09075V1026, Chart). In the gap between January this year, which is still only partially closed, BioNTech stock also has two major recovery peaks this year, at $185.09 and $189.07. The chart clearly shows that a break of the gap would be a very strong buy signal for biotech stocks. The signal would also make a double bottom with a base of $117 / $121. The average of the two lower lows is $185.09 and has already been beaten. However, without a decisive consolidation break above the big open, this is a potential bull trap.
