It's hard for Moderna to continue its growth

12 July 2022 373
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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.

This content is for informational purposes only and is not intended to be investing advice.

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