Well, as much as some don’t want to admit, Covid just isn’t as serious as it once was back in early 2020. With a 97-99.75 recovery rates, reduction of isolation days from 14 to 5 and no need of covid test after isolation. The dirty Politians have made their money off the vaccines and are cashing out and it reflects on the charts.
Daily Chart Analysis
After breaking out of continuation phase back in March 2020, MRNA went on quite the uptrend that saw price go from $25 to topping out at $497. A price increase of 1888%!
The last leg of the trend was broken end of Sept. 2021. Price then fell past 200ema and pulled back in form of Bear flag to its 50 ema. The bear flag was broken, and price fell below 200ema. This was the end of the uptrend of MRNA. Here we also saw the cross of 50 and 200 EMAs further confirming the bear market. After the breakdown from bear flag, price bounce several times but the EMAs rejected the price and the downtrend continued.
The downtrend is currently strengthening as it is now respecting and rejecting the 20 ema.
Price is currently at support area around 215.50.
Will be looking to short MRNA.
Entry: 223.50
Stoploss: 261.59
Target: trailing 50 ema or 110
Daily Chart Analysis
After breaking out of continuation phase back in March 2020, MRNA went on quite the uptrend that saw price go from $25 to topping out at $497. A price increase of 1888%!
The last leg of the trend was broken end of Sept. 2021. Price then fell past 200ema and pulled back in form of Bear flag to its 50 ema. The bear flag was broken, and price fell below 200ema. This was the end of the uptrend of MRNA. Here we also saw the cross of 50 and 200 EMAs further confirming the bear market. After the breakdown from bear flag, price bounce several times but the EMAs rejected the price and the downtrend continued.
The downtrend is currently strengthening as it is now respecting and rejecting the 20 ema.
Price is currently at support area around 215.50.
Will be looking to short MRNA.
Entry: 223.50
Stoploss: 261.59
Target: trailing 50 ema or 110
Comment:
Target updated: 110.00 or trailing 10 ema
Trade closed: target reached:
Exit: 170.00 - +24.38%, 1.43 RR ration