Vaccine Biotech Company Novavax $NVAX is showing respect for a price bottom formed in 2017. NVAX Daily Chart (click to enlarge) Rounded Bottom:- The daily chart shows that NVAX was in an accumulation stage throughout 2017 after being in a bearish trend since late 2015 when price peaked at $15 a share.- After the rounded bottom, price rallied sharply in 2018 and broke above the neckline at $1.75. - After tagging $2.30, price retreated. But it found support at $1.80 and shot up again.- Price is retreating again after tagging $2.10, but I think the combination of price action we are seeing is very bullish, with upside limited to $4.00, a previous support pivot that might turn into resistance.Sharper Correction Scenario:- Still, there is the possibility that the general market is very cautious now and will fade rallies in general. If there is a general market downtrend, it can drag NVAX back into the price bottom.- I think in a sharp bearish correction scenario remains in the context of a bullish reversal as long as price holds above the 1.40-1.50 area. - I would also like to see the daily RSI hold above 40 - a sign that bullish momentum is maintained.