Moderna got a lift from good news yesterday that tests on a new vaccine have shown effective results in significantly reducing recurrence of certain cancer. So far this year, MRNA had been pushed down slightly more that the market which gives it even more room to rise. When this stock saw a pop from COVID vaccine success it blew past targets and broke typical price target rules.
That previous rally proved that exceptional news can move MRNA’s MACD as high as +50. That may have been a bit of an anomaly but it does leave a lot of room for upward movement from the current level.
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Keep learning and trade wisely,
Market Wealth Daily