Geckie

MRNA going back down to $120?

Short
NASDAQ:MRNA   Moderna, Inc
As mentioned in my last analysis, Monday will be the deal-breaker for MRNA again, and it failed to hold that resistance.
Using historic data this will most likely drop down to $120 again before going back up to the $130s so this can be a great swing trade.
BUT! Watch out for support at $126, using the previous downward channel trend resistance this can act as support so watch out for that.

Reasons for bearishness:
-Historic data of the resistance and dip (influenced the most)
-EMA's crossing right now
-RSI was oversold

It's a clear bearish sign that probably won't last for long so look for a nice swing trade here.

(I am not a financial advisor)

Comments