Friday, October 14, 2005

Novavax (NVAX)

Nanovax with a market cap of only 192.7M should be considered a Micro Cap stock (although Nano Cap would sound nicer...) and a very volatile stock.

It's the most weighted stock in the Merrill Lynch Nanotech Index and it deserves a look at the chart since it started a small uptrend.

The 2 year chart shows a reversal. After the top in October 2003 the stock just kept going down until it hit it's lowest low in August of this year.

I'm looking for a breakout above the 2.6/2.8 Dollar price for a possible entry. The 50 day simple moving average is getting closer to a "Golden crossover" with the 200 day S.M.A.

Beware of the volatility and try to be focused on the long term since this is a grow stock in a growing sector. The best gains are not in speculative short term trades.

Here is the top5 weights in the Nanotech Index:

Company Name Symbol % Weighting
Novavax Inc NVAX 6.20%
Flamel Technologies Ads FLML 4.66%
Pharmacopeia Inc ACCL 4.59%
Immunicon Corp IMMC 4.29%
Tegal Corp TGAL 4.04%

You can check the rest here: ASE: NNZ Components


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