On July 21 @ 11.31/share, I mentioned that DVAX is going to take a Deep Breath before trying to Breakout of the 16 Years Descending Triangle. By the time it closed on July 21, it created a Candlestick pattern of Evening Star (Bearish downtrend). Now it is about 8.61/share that is about 30% decline since then. Not too bad for people who shorted the stock. The Stochastic is approaching oversold, It is on Fib 0.382, On Trendline Support. Look for chart reversal pattern and confirmation before adding more. Best of luck and watch out for the overall market that might drag the stock down :)
Evening Star created a very strong bearish trend, as a result. People ignored recent good news. This includes the following 1) Dynavax and Medigen Announce Collaboration to Develop a Novel Adjuvanted COVID-19 Vaccine Candidate 2) Committee to vote on addition of the following medications to THMP formulary (Vote Required) HEPLISAV B [Not really a good news unless it is voted and not really a big news, might add some revenue] Vote on July 31 hhs.texas.gov/about-hhs/communications-events/meetings-events/2020/07/31/texas-hiv-medication-advisory-committee-agenda
Universal influenza (flu) vaccine. DVAX announced that it has entered into a collaboration agreement with Icahn School of Medicine at Mount Sinai (Mount Sinai) to develop a universal influenza (flu) vaccine.
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