Moderna about to reclaim bullish Channel. Short-Term-BULLISH! Not financial advice!
With the new corona variant spreading fear all over the world, PFE and MRNA are running. I think it's possible for MRNA to reclaim the bullish channel, aka the Bull-Trap that broke down, when PFE announced the Paxlovid-med. I got in MRNA way to late, now taking a risky trade, since MRNA gaps like crazy, and there's always the chance that it'll brake down to be traded at skipped price-levels. I think one should watch out for PFE announcing Paxlovid being effective against the omicron variant, which could lead a lot of investors to switch to PFE.
Today I want to see MRNA reclaiming the bullish channel at $377,xx and hold within this channel.
From there on, it's more than a 30% ride to the top of the channel. But this stock has done crazy things like this in the past. Depending on how fast MRNA manages to reclaim the top, the price correlates with the last ATH at $494,xx. I think, if it manages to get back at the center of the channel, it will be rejected at the old resistance at $463,xx first, settle a bit and then trying to break the $500. My plan is to sell at $463 and then watch how things develop.
But remember if, you're not in it by now, it maybe is bad timing to get in at this pricelevel. Risk is way to high, because of the gaps. That is why I marked this trading strategy as Neutral.
Good luck in the markets!
Again, this is not financial advice!
