Since August, Moderna stocks are in the strong downtrend. At the end of November, it was a surge in demand for shares of coronavirus vaccine manufacturers amid the emergence of “omicron” but it quickly came to nothing and the decline continued.
On 14 February, Moderna failed down by 12% after suspending approval of its vaccine for children under five.
An additional negative influence became a sell of company’s stocks by its CEO and the co-owner Stéphane Bancel of almost $3 mln.
The price tried to be below the strong support of 150 but buyers intensified on the next day and returned the quotes above 150.
The “harami” pattern materialized but it is not very convincing for the development of a strong bounce. If the next candlestick proves growth, the levels of 160 and 177.5 can be achieved. Nevertheless, for now it looks like a game against a strong downtrend thus it is necessary to act very carefully.
This content is for informational purposes only and is not intended to be investing advice.
