Nova's 15min chart shows Bollinger Bands expanding upward, bullish Marubozu formation.

Nova's 15-minute chart has recently exhibited a notable technical indicator, as the Bollinger Bands have expanded upward, signaling a bullish trend. Additionally, the chart has formed a bullish Marubozu candlestick pattern, which further supports the notion that the market is currently being driven by strong buying activity. As such, it is reasonable to expect that the bullish momentum will likely continue.

Beigene (ONC) surged by 8.49% to 332.04 on September 2, 2025, marking two consecutive days of significant gains. This upward momentum is supported by a range of technical indicators, suggesting sustained bullish trends.

Technical Indicators

The recent surge in Beigene's stock price is accompanied by several bullish technical signals. The stock has exhibited a piercing line pattern, where a downward candle is followed by a strong upward candle, indicating a reversal near the 295 support level. Additionally, the September 2 session featured a decisive breakout marubozu candle, which is characterized by minimal wicks and a body spanning 324.02 to 335.94. This pattern suggests strong conviction above the 314.90 resistance level, establishing 335.94 as immediate resistance and 295.22 as major support.

The Moving Average Theory also supports the bullish trend. The 50-day moving average (currently near 285) crossed bullishly above the 100-day MA (near 275) in mid-July, confirming a positive medium-term trend. The price remains firmly above both averages, indicating sustained bullish control. Shorter-term pullbacks have respected the 50-day MA as dynamic support throughout August, while the distance between the price and the 200-day MA (approximately 245) highlights the strength of the longer-term uptrend.

The MACD (12,26,9) and KDJ oscillators also show strengthening momentum. The MACD histogram expanded positively since August 28, with both lines maintaining above zero. The KDJ oscillator's %K and %D lines reside in overbought territory above 80, while the J-line nears extreme levels. Though this hints at short-term exhaustion, the sustained upward MACD momentum may delay reversal signals. No bearish divergence is evident as both indicators align with the price uptrend.

The Bollinger Bands have expanded upward, signaling a pronounced volatility squeeze in late August. The September 2 close above the upper band (20-day, 2SD) follows this volatility squeeze, typically preceding directional breakouts. The band width expansion supports continuation potential near-term, with the middle band (20-SMA near 300) and lower band (near 280) serving as pullback targets.

Volume and Relative Strength Index (RSI)

The breakout was validated by September 2's volume, which doubled the 30-day average, indicating a clear accumulation signal. Prior advances consistently coincided with above-average volume, confirming legitimate breakouts. Conversely, pullbacks occurred on diminishing volume, suggesting weak distribution. The absence of volume divergence supports the rally’s sustainability if volume persists near recent levels.

The 14-day RSI now registers approximately 76, entering overbought territory (70) for the first time since June. While this warrants caution given historical reversals from similar levels in April, the absence of bearish divergence and the trend’s strength warrant contextual interpretation. Prior instances show RSI can remain elevated during powerful trends, though consolidation often follows within 3-5 sessions. Risk-reward asymmetry increases at these levels.

Fibonacci Retracement

Applying Fibonacci to the dominant trend from the April 3 low (174.74) to the June 12 high (276.53) shows the current price exceeding the 127.2% extension level (307). Key retracement supports include 294.92 (38.2% of the latest swing low from July 14 to the high on September 2) and 288.69 (50%), aligning with the psychological 290-300 support zone. Confluence exists near 300 where the 38.2% Fibonacci level, 20-day moving average, and prior resistance (August 18 high) converge.

Conclusion

The confluence of technical indicators, including bullish candlestick patterns, moving averages, MACD, KDJ, Bollinger Bands, and volume data, suggests a strong bullish trend for Beigene. Despite the RSI entering overbought territory, the absence of bearish divergence and the trend's strength support the continuation of the uptrend. Investors should remain cautious but expect the bullish momentum to likely persist.

References

[1] https://www.ainvest.com/news/beigene-surges-8-49-332-04-technicals-signal-sustained-bullish-momentum-2509/