MRNA Story - On A Smaller ScaleIn continuation of the previous idea, I wanted to cover the shorter time frame move on $NASDAQ:MRNA.
Really, this is a more simple analysis as the base is clearly set on the weekly chart. I should note I have analyzed the consolidation on the 2-Week time period. The 2-Week time period does also give a range expansion signal, but for a more detailed look I am showing the 1-Week time period.
With the current base, and a measure of this consolidation range (from low to high), a first target of $42.76 can be obtained. If the trend continues in a really strong fashion, a second target of $68.17 would look to be hit. Sometimes when an explosive move like this happens, a retest of the mode can occur like in the example path shown below. However, just as the continuation of this trend remains to be seen, so does any retest of this move. Make bets accordingly.
Whether the trend continues, and how strong it remains, of course is yet to be determined. But this analysis allows for educated guesses to be made and positions to be taken.
Best of luck to all of us who are entering positions and looking for continuation of this trend reversal play.
Pasting the regular weekly chart (no path) here:
Enjoy,
Reagen
