MRNA pr.target $70 at 2.6 fib. level & uptrend channel crossing.
With some trend analysis fibonacci retracement tool and uptrend parallel channel crossing, I project a price to take profits at $70 if you are long from the lows.
Comment:
I guess the idea for the top was just shy of the $70 targeet that was called in the mrna idea.If you were long and placed stop loss you should good!
Comment:
The latest price action eventually got out of the two shown parallel up-trending channels in the upward direction and formed a significant top at the fibonacci x4 level of the shown tool and then cut downward through the channel and went well outside and below the lower line of the shown uptrending channel. It can be easyly seen that it formed a head and shoulders paturn indicating that the price trend could soon turn in to the downwords direction from the current right sholder top if the right sholder is confirmed.
The huge media hype about the vaccine caused the price action to go this crazy for this stock since the original idea was posted. It is very unclear now if they eventually develop a vaccine or not and wether it would be effective forever thereafter because of the ever mutating virus, but it seems that a lot of FOMO caused a lot of the johnie come latelys to get trapped long at these higher prices. If however you managed to exit with a profit before the downturn from the recent top and you stil beleave in the company it is suggested to wait until the price drops to the appropriateprice level indicative of the said paturn which is well below the suggested head and sholders paturn neckline (one head hight below) and place a stop-buy limit order for going long again after and if the price action gets there and finds and bounces off of some sort of a support first, because you do not want to cach a falling knife...
The huge media hype about the vaccine caused the price action to go this crazy for this stock since the original idea was posted. It is very unclear now if they eventually develop a vaccine or not and wether it would be effective forever thereafter because of the ever mutating virus, but it seems that a lot of FOMO caused a lot of the johnie come latelys to get trapped long at these higher prices. If however you managed to exit with a profit before the downturn from the recent top and you stil beleave in the company it is suggested to wait until the price drops to the appropriateprice level indicative of the said paturn which is well below the suggested head and sholders paturn neckline (one head hight below) and place a stop-buy limit order for going long again after and if the price action gets there and finds and bounces off of some sort of a support first, because you do not want to cach a falling knife...