We might think that Moderna stock pharmaceuticals could be subject to wild swings as this biotech company is attempting to distribute a coronavirus vaccine to millions worldwide. Is Moderna stock MRNA a stock to buy?
Moderna stock has been a stock to buy quite a few times in the last few months. As supply and demand traders, we should focus on very clear imbalances in buying. We have analyzed in depth Moderna pharmaceuticals stock in Set and Forget’s the online trading academy.
Moderna (MRNA) joined Pfizer (PFE) and partnered with BioNTech (BNTX) to have a COVID-19 vaccine authorized in December 2020. Both vaccines use messenger RNA technology to prompt an immune response. Johnson & Johnson (JNJ) followed with its own authorization in February 2021.
Below we can see the weekly timeframe for Moderna stock. We can see two strong weekly demand imbalances around $122 and $103. The imbalance at $103 per share has played out nicely, as called in Set and Forget’s online trading academy. What will happen with the second one that is trying to play out? We don’t know, but it was a valid setup that has moved %20 in our direction.
Shares of Moderna stock hit a record high on Feb 2021. The stock popped up and down for a few weeks, respecting the imbalances you can see on the chart below. regardless of what they had to say about its Covid-19 vaccine being 94.1% effective in a Phase 3 test.
This is the kind of price action technical analysis you will learn in our trading community. You will learn how to locate new supply and demand imbalances and trade without using any indicators, no news, no fundamental analysis, no earnings announcements, no volume or VSA analysis. Just supply and demand imbalances on Moderna Stock.
Trading supply and demand imbalances are ideal for beginners and those with a full or half time job, you won’t need to stay in front of the computer all day long trying to move price action with your mind.
As supply and demand traders, we do not need to pay attention to the news, fundamentals or any earnings reports. Once a big timeframe imbalance has gained control, earnings do just the opposite and react strongly to those imbalances. Why do you see positive earnings and then the underlying stock drops like a rock? Or a negative earnings announcement and the stock rallies like a rocket out of control? You are probably missing the fact that there are big imbalances gaining control.
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