$MRNA $308 or $300 bounce
(If we get below then reclaim these levels, take a position for calls)
Price targets:
308->310
300->305
Technical analysis: Bounce off pivot point around 308 area or bounce off psychological level at 300
Rationale: With increasing news of a new virus variant, vaccine stocks are rallying so there is built up potential for more momentum
News of the new variant is freighting. Price is finding dynamic resistance within the 78.60% arc. Time inside this arc can persist till February 22, 2022 but is more likely to breach some time before this. It will only be natural for price to find equilibrium through the 50% level. Although put risk is extremely low right now, never go in expecting to much.
Fundamental
Quidel: a manufacturer of diagnostic products, frequently rises or sinks in response to developments in the coronavirus pandemic, as a big part of their revenue comes from its COVID-19 testing kits.
As the Delta Variant is worrying countries around the globe, QDEL will be interesting to watch.
Technical Analysis
As you can see in the weekly ...
