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Strong day for Moderna Inc. stock price on Monday rising 7.55% to $411.89

StockInvest.us, 3 months ago

Moderna Inc.

The Moderna Inc. stock price gained 7.55% on the last trading day (Monday, 23rd Aug 2021), rising from $382.98 to $411.89. , 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 6.79% from a day low at $385.77 to a day high of $411.97. The price has fallen in 6 of the last 10 days and is down by -14.98% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 16 million shares were bought and sold for approximately $6.40 billion.

On August 06, 2021 "Piper Sandler" gave "" rating for MRNA. The price target was changed from $416.26 to 0.7%.

The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 105.9% during the next 3 months and, with a 90% probability hold a price between $741.34 and $1 086.20 at the end of this 3-month period.

Moderna Inc.

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 $390.67 and $341.43. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, August 09, 2021, and so far it has fallen -14.98%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).

Moderna Inc. finds support from accumulated volume at $391.42 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the 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 $26.20 between high and low, or 6.79%. For the last week, the stock has had a daily average volatility of 7.26%.

Several short-term signals, along with a general good trend, are positive and 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.

Check full Moderna Inc. forecast and analysis here.