MRNA
recently closed above a long term trend line (resistance) today on the 4 Hour chart. This is great news for
MRNA
bulls. Today,
MRNA
CEO says they expect sales to increase to "6 - 8 Billion USD" because of COVID and other generic flu vaccinations they are going to be selling. Could mean that vaccinations are making a come back (link posted below)? The good news for
MRNA
bulls is that the chart looks promising. Ideally, we need to see the following happen BEFORE I WOULD GO LONG : 1)
MRNA
needs to close and hold the trend line (resistance now) as a support level with a clear test and hold 2)
MRNA
needs to see an increase in volume as typically sellers have been able to manipulate the price of
MRNA
with low volume as bulls have been weak 3)
MRNA
will test $117 [First Major Resistance Level] and then $122 [200 EMA] Over all, I am not a huge bull on
MRNA
, the chart just looks promising. I think the fundamentals need to catch up. There is a reason why the market has beaten down
MRNA
stock from the COVID-19 all time highs. If fundamentals start lining up, I could see
MRNA
breaking out of this slump. Link to Moderna CEO Interview --> www.fiercepharma.com...ach-flu-shot-figures