In our Monday pre market newsletter, Flight Path, we highlighted the healthcare sector as showing signs of outperformance. We talked about PFE, MRNA and the less popular NVAX. Novavax is still in its “NoGo” trend, but continues to ride the zero line on the oscillator. We will watch that closely.
Both Pfizer and Moderna saw nice jumps in price after the good vaccine news this week and are now in new “Go” trends. PFE has since pulled back a little and we will look to see if it can find support on the GoNoGo Oscillator at the zero line to maintain the trend.
The chart of Moderna, above, has seen a sustained move up since the beginning of the week since re-flagging a “Go” trend.
This recent rally has been accompanied by heavy volume, as we can see in the dark blue of the GoNoGo Oscillator. Momentum is now quite overbought, so we will look to see if price will pause or if it can continue to forge higher.
The chart of Moderna, above, has seen a sustained move up since the beginning of the week since re-flagging a “Go” trend.
This recent rally has been accompanied by heavy volume, as we can see in the dark blue of the GoNoGo Oscillator. Momentum is now quite overbought, so we will look to see if price will pause or if it can continue to forge higher.