Moderna Inc trading idea (10/01/2024)

BATS:MRNA   Moderna, Inc.
Analysts at the Oppenheimer brokerage company, as reported by Reuters, have upgraded the stock rating of Moderna Inc. to "outperforming the market," and the vaccine maker's CEO reiterated the company's goal of achieving sales growth by 2025.

The issuer's shares fell nearly 45% in 2023, marking its worst annual performance due to weak COVID-19 vaccine sales. According to Oppenheimer, Moderna could have five products on the market by 2026.

So, today, we will examine the Moderna Inc. (NASDAQ: MRNA) stock chart.

On the D1 timeframe, there is a "break" in the downward trend, which has persisted since the end of 2022. Resistance has formed at 115.81, with support at 97.91. Currently, an upward trend is developing on the chart.

On the H1 timeframe, if there is a rebound from the 100.98 level, the short-term target for a price increase can be set at 115.81, while in the medium term, it could hover around 139.77.

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