According to the company's website, Vir Biotechnology (VIR) is focused on combining immunologic insights with cutting-edge technologies to treat and prevent serious infectious diseases. This sounds way above my pay grade so let's check out the charts and indicators.
In this daily bar chart of VIR, below, we can see that prices made a huge and brief rally in January. Prices quickly retraced those gains and have subsequently traded sideways to a bit lower the past nine months or so. Prices have recently rallied above the 50-day and 200-day moving average lines but their slopes are not bullish.
The On-Balance-Volume (OBV) line declined from February through July but then improved from early August suggesting a shift from aggressive selling to aggressive buying.
The Moving Average Convergence Divergence (MACD) oscillator has recently moved up to test the zero line from below. We could see a new outright buy signal if prices continue to rally.
In this weekly Japanese candlestick chart of VIR, below, we can see the past two years of price action. The big picture is neutral. The weekly OBV line is positive and the MACD oscillator is close to a cover shorts buy signal.
In this daily Point and Figure chart of VIR, below, we used a three box reversal filter and can see that the software is projecting a possible upside price target in the $96 area but a trade at $55 is needed to refresh the uptrend.
In this second daily Point and Figure chart of VIR, below, we used a five box reversal filter and here the software projects $140 as a price target.
Bottom line strategy: VIR may show a lot of potential on the Point and Figure charts but our other charts and indicators are neutral at best. I might get interested in VIR if it can rally above $55 on expanding volume. A close below $30 would not be positive.
