Strength on MRNADespite negative news, Moderna, Inc. stock is in a good position to rally. Its price has been falling since August 2021, but relatively big buys have begun to emerge since August 2024.
It has to be noted that on every bar with buying, volume is increasing, which is usually a sign of accumulation on a down move.
If the price breaks the $40.83 level (the high of the bar with the largest volume), then tests it on low volume later, and supply does not re-emerge in the $49.94 - $56.70 zone, this would signal the end of accumulation. In such a case, we could expect the move towards $102.90 - $118.10, and if shares would not be sold off there, it might go even higher to $156.94 - $163.19.
At the same time, if accumulation has not been finished yet, we may still see another leg down for more buying.
