High volatility in Moderna Inc. stock price on Wednesday which ended trading at $419.05

The Moderna Inc. stock price gained 8.42% on the last trading day (Wednesday, 4th Aug 2021), rising from $386.51 to $419.05. , and has now gained 3 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 14.82% from a day low at $377.11 to a day high of $433.00. The price has risen in 6 of the last 10 days and is up by 30.5% 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, 12 million more shares were traded than the day before. In total, 32 million shares were bought and sold for approximately $13.41 billion.

On July 15, 2021 "Jefferies Financial Group" gave "$170.00 - $250.00" rating for MRNA. The price target was set to $247.50+0.3%.Over the last 30 days, this security got 1 buy, 0 sell, and 0 hold ratings.

The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $375.13, a level that may pose a second chance to hit a runner. According to fan-theory $462.61 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

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 $361.32 and $271.73. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, July 27, 2021, and so far it has risen 27.56%. 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 $348.83 and $335.87.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 $348.83. If this is broken, then the next support from accumulated volume will be at $335.87 and $321.11.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $55.89 between high and low, or 14.82%. For the last week, the stock has had a daily average volatility of 8.67%.

The Moderna Inc. stock is extremely overbought on RSI14 (84). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Moderna Inc. stock to perform well in the short-term period.We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.