Stock Analysis: Moderna, Inc. (MRNA) – 104
Trade details: Moderna is trying to give a breakout above its Exponential moving average line which will be a very good support levels on reversal. Stock is preparing for the next big upmove and will hold the upper levels.
If the market falls further then you can also hold this trade for the next bounce even you can accumulate more at the lower levels because this is very attractive on fundamentals too.
The above chart is a daily time frame chart of moderna showing cup and handle pattern.
If you look at the daily technical chart pattern then there is a formation of cup and handle pattern on this stock and will bounce towards 130 levels in a one bounce.
This trade is also perfect fits with the Risk-Reward ratio of more than 1:3.
The above charts is a Weekly time frame chart of Moderna.
ENTRY = 104.86
STOP = 99
TARGET = 116 / 130
Please Note: You can accumulate more stocks if it continues to fall and after crossing 115 it will shoot up very fast towards 130 levels.
To get regular updates on stocks, please join our Discord community.
See Our Articles on stock Analysis
My best read on trading is this Book