WOW! and opening higher tomorrow. This is a weekly chart. Probable parabolic arc but this can go on for quite some time. It can be a long term pattern. There is money to be made off of this pattern if you entered at the right level. There is also money to be lost but this is true of any security.
ARCS are easier to see on a weekly chart as the slope in the arc that looks like a )
Folks are extremely bullish in a parabolic arc pattern. The pattern can be very difficult to trade due to the extreme bullishness with an unsustainable rise. I mean some folks would be afraid of getting in way up here. Others would not.
Price is way above the 50 SMA . Often price is drawn to the 50 moving average.
I can not really do accurate fib levels as this may not be finished yet. Most parabolic arcs fall to the 0.5 to the .786 fib level when the party is over. The average is between the .618 and .786 although I have seen only fall to the .382, for the time being. I have also seen some fall 100% or more. And the party always ends. A break of the inverted C curve or the half moon looking shape, can break the pattern. Retests of former highs are common.
Overbought on daily, weekly and monthly RSI set on 80. I like to look at all 3 although being overbought on daily catches my attention with RSI on 80 verses 70.
Negative volume is high and short interest is not super high.
It does not mean that a security is not fantastic when it falls back to earth. It just can mean we are not all astronauts yet and greed will kick in. It is human nature which causes the fall.
No recommendation.
Bearish divergence.
ARCS are easier to see on a weekly chart as the slope in the arc that looks like a )
Folks are extremely bullish in a parabolic arc pattern. The pattern can be very difficult to trade due to the extreme bullishness with an unsustainable rise. I mean some folks would be afraid of getting in way up here. Others would not.
Price is way above the 50 SMA . Often price is drawn to the 50 moving average.
I can not really do accurate fib levels as this may not be finished yet. Most parabolic arcs fall to the 0.5 to the .786 fib level when the party is over. The average is between the .618 and .786 although I have seen only fall to the .382, for the time being. I have also seen some fall 100% or more. And the party always ends. A break of the inverted C curve or the half moon looking shape, can break the pattern. Retests of former highs are common.
Overbought on daily, weekly and monthly RSI set on 80. I like to look at all 3 although being overbought on daily catches my attention with RSI on 80 verses 70.
Negative volume is high and short interest is not super high.
It does not mean that a security is not fantastic when it falls back to earth. It just can mean we are not all astronauts yet and greed will kick in. It is human nature which causes the fall.
No recommendation.
Bearish divergence.
Comment:
To Clarify: I am not dogging MRNA when I made this post. I do not like posting possible ARCs because folks are so bullish on the security or it would not be a parabolic arc (o: Sometimes an arc will retest the highs or stay overbought for eons. They are caused by irrational exuberance but a lot of money can be made on the way up. They can tear you a new one on the way down and remain volatile for some time. I have owned them, but got in before the arc formed, and I will stay in for a while after it starts the steep climb. I set my targets and get out when they are hit. You can not really set targets on an ARC but they almost always evolve from another bullish pattern like a Bull Flag, Cup and Handle etc that I have set targets for. If they pass targets 1, I use targets 2 (1.272 and 1.618) You eventually see the ) or inverted C like pattern on weekly time frame. My intent is only to point this out. THX