This broke out and experienced a throwback. The throwback sent it back down to below long entry level.
Volatile but we trade at our own risk. It does seem this is a stock one should slip in and out of, collect profit and move on, but who knows?
Throwbacks differ from pull backs. Pull backs are natural and are considered healthy. Throwbacks can hurt performance and occur when a security has issues holding on to the break out price and throw back to beneath the long entry level in a quick manner. No recommendation.
This does look like a CUP with a rounded bottom and does not have a pointy W at the bottom of the cup that I can see. Any pattern can fail/price is just below the .618 of the trend up.
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Former parabolic arc that is residing between the .618 and the .786 of the very long trend up
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There are folks I know that so bullish on MRNA it is like crazy. They may be right. Trade at your own risk. Personally I think life will go on with or without MRNA. Since this was a parabolic arc before falling so much, it will possibly remain volatile. At anytime, me or you could simply fly away (>'
The vaccine has sometimes to go if approved, the current market is tanking with higher interest rate. This should be the top for the next 6 months at least, that's my guess. This cup and handle might form into a head and shoulders in short term. Maybe it's just me but i see the left shoulder and head already...
Turtles625
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Also looks like a H&s
Turtles625
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Look at the weekly 100sma is a resistance, I have been short even since the inside bar after touching the 100sma
MechanicalTrader13
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How many cup and handles has this formed recently? Look at the weekly, this was a no-brainer short for me.
lauralea
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@MechanicalTrader13, Agree and is by no means one of my fave stocks. I wait to short it as a rule. I was just pointing the cup out is all and did not mark it as a LONG. I think the political flu is fizzling and the unvaccinated or those with natural immunity (like me, I had it for 5 days and have had sinus infections that were way worse) I will not be going long on this as there are too many health risks one acquires after the multiple vaccination(s) such as clots and heart issues/I think it is a farce and a staged money maker for the political flu, but now they are involved in a cancer vaccine. Possibly another farce, as I do not understand a cancer vaccine being effective in this day and time as there are way too many variants in the scope of so many different cancers and so many different ways cancer can attack it's host. It almost seems this company is in cahoots with someone, somewhere, but we will most likely never know the who or the where. I have been in the medical field for 30 years . good luck!
MechanicalTrader13
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@lauralea, Thanks for the insight and good to know your background. Pretty much spot on with what I am hearing/researching. The Senate passing to get rid of military mandate is another small, but step in a major correction on MRNA. I'll continue to watch and grap short term shorts until a better trend is identified. Thanks @lauralea !