MRNA ScalpWatching it above 171 (5 min candle closing above this level) for a test of yesterday's high
MRNA trade ideas
Price analysis of MRNAMRNA is at the previous resistance level. In the past this level has provided strong price rejection. If the price gets rejected at this level,it can continue going back to the triangle boundary and then reverse back up.
ModernaChart pattern: Bull flag
Entry: 160$ (this would end the downtrend)
Stop: 113$
Target: 300$-400$
Stopmanagement: ATR Stops weekly chart default settings
Risk:Reward-Ratio: > 2:1
Description: The price has formed a coherent Elliott-wave-pattern. It also regained the trendline which was valid in the past. Target is the 1:1-1:1.6 Fibonacci-extension
MRNA & end of the bulls?MRNA has had a few wild weeks going up from $120 to $170.
I believe this could be the end of the bullishness and it may do a correction.
Why do I believe this could happen?
MRNA hit historic resistance of $170, after hitting that mark it began dropping. This resistance seems like it can hold.
RSI is bounced off the 70 mark on the daily chart.
RSI is overbought on the 4HR chart
EMA's are beginning to cross over on the hour charts.
This could be a tiny correction and just bounce off $160 before continuing its path to $200 so I would keep a close eye on the stock.
What I am looking for right now is:
1st support - $160
2nd support - $139_$145
3rd support - $120
At this point MRNA going back down to $100 or even lower seems incredibly unlikely.
Moderna's earnings arent too far away so that could act as a catalyzer that will continue the growth.
In short I believe that MRNA could have hit the resistance and it will either go down to the listed supports or if it stays in these levels then it will most likely stay like this till earnings come which will tell what direction it is going to go from here.
Please comment down your ideas and thoughts on this, I would appreciate any criticism you may have on the charts and analysis, and looking forward to your comments!
I am not a financial advisor, these are my personal ideas an thoughts please do your own research before buying a stock.
MRNA RetestMRNA seems to have broke above the 160 resistance level, and has since pulled back to retest this level. There is strength in the vaccine plays this past couple trading days. I believe MRNA will get bought up from here to the 185 level where it will find resistance.
Trading Idea - ModernaBUY!
Target Order: 148.48 EUR
Stop Order: 120.03 EUR
1.) GoodNEWS for Moderna: The British government wants to continue its course in the fight against the coronavirus. The first deliveries from the pharmaceutical company Moderna are expected in April, told member Oliver Dowden today. It would be the third vaccine to be used in the UK. To date, more than 30 million adults - 57% - have received a first dose.
2.) M30 chart shows a support level at the current price range. A rejection is expected.
3.) Execute the trade based on the recommended TP and SL levels!
4.) SL below last significant low!
Don't fomo into MRNA...yetMRNA made a huge leap on Friday going front $133 to $144.
I believe MRNA will resume bullishnes as long as the market remains stable and bullish BUT, MRNA could drop to around $135 before continuing to go up.
It still has a way to go on the RSI indicator and EMA's still haven't passed over. If MRNA exists the channel be ready for more mooning to come.
Disclaimer: I am not a financial advisor and this is purely my opinion and thought about this stock, do your own research before going into MRNA.
MRNA Falling wedge Anticipating breakout move after period of consolidation, followed by retest of upper trend line and push to highs
MRNA 🌦When I identify an LDC (LOWER DEGREE CORRECTION) on a sector its only a matter of time before it appears on the stock. This is my signal to enter calls on MRNA strike price 156.
MRNA going back to $120, entered downard channel trend!MRNA seems to have entered another downward channel trend.
Using the previous resistance on the last downward channel trend we can see it can act as a sort of support, the trend also made two other downward resistances as you can see on the chart.
This makes me to believe that this could go back down to $120 where it can make a double bottom which can be a great buying opportunity, but for now, I'm bearish.
MRNA formed a double bottomModerna seems to have made a double bottom, this could indicate some bullishness coming in and if it passes the previous resistance of around $135.50 then the next resistance comes at $145 so there is quite a way to go back up!
MRNA going back down to $120?As mentioned in my last analysis, Monday will be the deal-breaker for MRNA again, and it failed to hold that resistance.
Using historic data this will most likely drop down to $120 again before going back up to the $130s so this can be a great swing trade.
BUT! Watch out for support at $126, using the previous downward channel trend resistance this can act as support so watch out for that.
Reasons for bearishness:
-Historic data of the resistance and dip (influenced the most)
-EMA's crossing right now
-RSI was oversold
It's a clear bearish sign that probably won't last for long so look for a nice swing trade here.
(I am not a financial advisor)
