A gamble for sure. But, my bias is Bullish.Greetings. Call me crazy, but I remain bullish on MRNA despite the descending triangle on the daily chart, which is usually a bearish formation. Why? Because, I've seen this before, with TSLA. And then, Boom! Price exploded to the upside. When volume falls in tandem with price, I interpret this as a bullish signal. In addition, momentum is shifting to the upside, and trendiness indicator (DMI) signifies a very weak daily bearish trend. Finally, the linear regression channel indicates that price is close to two deviations from the normal trend, which I interpret as a signal to go LONG.
On the weekly chart, momentum and the MACD are both bearish. However the Stoch RSI is neutral, and the trend is strong and bullish. In this regard, I'm waiting for a reversal candle. I anticipate an explosive reversal candle in tandem with a positive news events (that's how BIO stocks usually trade....news-driven).
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
