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ChartMeNot
Aug 30, 2021 3:46 AM

MRNA is toast Short

Moderna, Inc.NASDAQ

Description

Broke out of rising wedge to the downside.

Not financial advice in any way. I do not have a position in this stock, just calling it to see if I'm right later.

Comment

And, that was wrong, dead wrong.
Comments
ChartMeNot
I actually ended up going long at 409. looks pretty bullish still. I shouldn't have posted this bearish analysis, it was way too premature but I wanted to see if I could call the bubble pop.
gooney0
I would say you were right, then wrong. It broke down, then retested the lower trendline on 9/3/21 but went higher.

In hindsight, there is no increased volume on the breakdown. That might suggest a fakeout. If you took the trade, you wouldn't see that volume until the end of the day.

I would've seen this as an ascending triangle rather than a rising wedge. The top is imperfect but more flat than upwards.

Who knows? Maybe it's neither?
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