ContraryTrader

Moderna rising wedge. The S&P curse

Short
NASDAQ:MRNA   Moderna, Inc
355 views
3
Penn
Avgo
Etsy
Tesla


Penn and Avgo Rallied similar to Mrna after the announcement of S&P inclusion. Both sold of 20% within the first month of being in the S&P ;Both sold off the day of. What we have here is an Old school by the rumor sell the news. On top that , Rising wedge formed on weekly. final destination outlined in yellow.

First target is Wedge top at 264
then wedge support around 230

I think we get a dead cat bounce at wedge support and a suckers rally back to 280 before the final fall .

Oversold On weekly and daily and monthly RSI
Money flow oversold.
3days outside its bollinger band
the only other stock even close to being this oversold Is TGT

Comments

Today is going up again. When do you see falling?
+1 Reply
@gwallusche I expect the selling to start tomorrow or monday. A drop and close below 318 is conformation
Reply
that sell volume oy vey
Reply