- Moderna (MRNA) shares rally nearly 3% on Wednesday.
- Moderna (MRNA) stock has been highly volatile but omicron fears have helped.
- Moderna (MRNA) still showing bearish signs on the chart.
Moderna (MRNA) shares recovered on Wednesday as omicron cases continue to surge across the globe. The World Health Organization declared a world record for new infections this week and many countries are instigating further lockdowns and booster campaigns.
Moderna (MRNA) stock news
The emergence of the omicron variant of covid gave Moderna (MRNA) stock a much needed boost if you'll excuse the pun. The stock had been struggling after a disappointing earnings report on November 4. Moderna missed on both earnings per share (EPS) and revenue numbers. The stock lost 18% thereafter. November 26 though saw a complete turnaround when South Africa announced the discovery of the omicron variant. Vaccine stocks surged and Moderna (MRNA) finished up over 20%.
Moderna (MRNA) stock forecast
The first thing to notice from the omicron rally here was Moderna rallied up to close the gap from September 30 and failed. The chart showed a bearish shooting star candle formation and quickly gave up those gains. While omicron appears more transmissible but milder, developed countries have rushed out booster campaigns. This should underpin Moderna's next set of results but markets are forward looking and are betting this is the start of the end for covid.
The big significant move in our view is December 20. Moderna announced a booster shot of its vaccine increased neutralizing antibody levels by 37 times. Moderna stock surged and was up nearly 10% at the start of the day but closed 6% lower. Since then it has been one-way traffic.
support at $234, $210, $188 and $157. big volume support at $157. Resistance at $272 from the 200-day MA and $321 from the Dec 20 high.
Moderna (MRNA) chart, daily
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