After making a major price correction throughout December, MRNA started in 2021 a new upward movement that is ongoing and leading it to new highs.
Note that
1) the correction was made with a very large volume, which means that the shares left the portfolios of the many and passed into those of the few
2) the RSI has not yet entered the overbought area and
3) it is possible (but perhaps not necessary) to retreat prices close to the previous peak to create a cup-forming handle.
MRNA's upward move is supported by both the expected big sales revenue of its vaccine for Covid-19, and a promising large pipeline of new drugs and vaccines comprising 27 products under development.
MRNA as well as INO is likely the TESLA of Biotechnology.
Following is presented the short-term trend chart of the stock.
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