breakout, backtesttextbook base breakout and backtest, wiĺl be looking to add more options if we dont take off immediately
4MRNA trade ideas
Moderna NASDAQ: MRNAI only ever got a few entries onto this position early on and have taken profit along the way mainly due to freaking me out with the volatility when we started spiking to 200 dollars back at the end of 2020.
I chose to play some of the bio tech and pharma plays during early covid as a defensive play but also some high risk as the controversy around the vaccines could have significantly back fire on me but I took the punt anyway.
As I mentioned I havent taken any new entries since jan 2021 and just riding what i have left now, but its one of those stocks that just keeps running for me with regret of not going in heavier or not taking profit early with partial position lol but thats the game isnt it, hindsight's a bitch.
Not doing any fancy TA on this, simply just following the channels up and looking for reaction on the outer limit of the pitchfork (set to 1.618) any major break down of the mean and I may look for a top up but I feel its gone far enough and actually looking to de-risk soon and reduce position further.
Probably going to bite me in ass here
Moderna - Ran Nicely, Sold Too EarlyNice move for MRNA....Maybe (sometimes) my approach is a bit too conservative. Sometime you just have to let stocks run. Now looks like upside momentum is slowing.
MRNA shortModerna short showing up on the daily. Probably going to wait until it hits the upper channel again.
Trendline Support, Fire CopportunityDiscount on King Derna at present but he could find support on this trendline as low as 170. Smaller timeframes suggest 186-88 could be strong support. Above 204-205 is the next breakout. Staying patient and waiting for any of these targets as a buy signal.
MRNA - short (now), long (long-term)3 days in a row it is closing lower.
Profit taking may send MRNA to test previous resistance, which now may become a support level.
If all goes well, it should bounce off of 185, or a bit lower within BUY1 zone, and head to ATH in 250’s.
However, we may as well see a bigger sell off, like witnessed 2 times already back in Dec and Feb.
If that happens, MRNA may loose almost all of its gains of the last wave and head to 140’s-150’s, where BUY2 zone is indicated.
I do not expect it to drop more than that, unless there are any bad news (then it can test even lower support levels).
And after that, before or after the next earnings, we shall see ATH in 250’s.
MRNA Cup and Handle NASDAQ:MRNA showing telltale signs of the cup and handle bullish pattern , with decreasing volume in the cup base and forming a clear handle after the all-time high, meanwhile MACD is crossing above the signal line inside "the handle".
MRNA Wedge Pattern - 30min chartWe are sitting in a wedge near ATH for MRNA
The relative volume of 0.58 confirms the squeeze. Our Entry levels are based off previous candles and volume profile on the 30 min chart.
Entry Levels:
Calls > 221.55
Puts < 211.24
High chance breakout happens first hour of today, so be ready
Revised TargetSuggested the PT of $200 here but its going to do even better than that. First target $260 and then above $300.
