Geckie

MRNA jumps after hitting support, whats next?

NASDAQ:MRNA   Moderna, Inc
For this analysis, I am going to be using the same downward trend channel that I made on March 25th and it went exactly as expected. This recent spike might be coming to an end though due to being overbought on the RSI and close to hitting the resistance on the trend channel.
Although if it breaks through that resistance it can become support, keep an eye on MRNA . If it doesn't break through then it could go back to the $120s level.
Comment: It seems like it actually hit the target as expected. If it doesnt break through then expect it to drop back down to $120.
Comment: MRNA had a double top and historic resistance, started going down. I dont believe it will reach $120 again but I still wont be suprised if it does. Keep an eye on it once it bottoms on the RSI as its overbought right now.

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