It's hard for Moderna to continue its growth

12 july 2022 47
Volkov_Anton
Volkov_Anton

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Moderna stocks have soared 50% over the past month. It is an outstanding result, if we do not take into account the decline of 76% from last year's historical maximum of 495.

 

Since the COVID-19 pandemic is not a major theme for news anymore, market participants have lost interest in Moderna. But now a new wave of infections in Europe and China can benefit shares of vaccine makers.

 

However, it will be difficult to continue growth at the same pace: the RSI indicator has already entered the overbought zone and is moving down, and the Harami cross pattern appeared on the chart.

 

The correction may bring Moderna stocks to the level of 155. After that the growth may continue to the main goal - the spring maximum of 188.

Volkov_Anton
Volkov_Anton

Listed among the best MarketCheese authors
1st in the segment "Currencies"
2nd in the segments "Indices", "US stocks" and "Metals"
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