High volatility in Moderna stock price on Monday which ended trading at $97.95StockInvest.us, 10 months ago
The Moderna Inc. stock price gained 9.58% on the last trading day (Monday, 16th Nov 2020), rising from $89.39 to $97.95. , and has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 10.61% from a day low at $93.30 to a day high of $103.20. The price has risen in 9 of the last 10 days and is up by 45.95% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 56 million more shares were traded than the day before. In total, 70 million shares were bought and sold for approximately $6.89 billion.
Oppenheimer is very positive to MRNA and gave it an "Outperform" rating on November 16, 2020. The price target was set to $108.00 - $157.00.Over the last 30 days, this security got 4 buy, 0 sell, and 0 hold ratings.
Given the current short-term trend, the stock is expected to rise 17.78% during the next 3 months and, with a 90% probability hold a price between $77.34 and $115.37 at the end of this 3-month period.
Mostly positive signals in the chart today. The Moderna Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $83.40 and $73.71. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, September 08, 2020, and so far it has risen 80.25%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
On the downside, the stock finds support just below today's level from accumulated volume at $87.81 and $82.44.There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Moderna Inc. finds support just below today's level at $87.81. If this is broken, then the next support from accumulated volume will be at $82.44 and $77.74.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $9.90 between high and low, or 10.61%. For the last week, the stock has had daily average volatility of 8.27%.
The Moderna Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Moderna Inc. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.Check full Moderna Inc. forecast and analysis here.