Volatile ride for Moderna stock price on Tuesday moving between $184.02 and $208.52

The Moderna stock price gained 21.20% on the last trading day (Tuesday, 13th Dec 2022), rising from $164.52 to $199.40. During the last trading day the stock fluctuated 13.31% from a day low at $184.02 to a day high of $208.52. The price has risen in 6 of the last 10 days and is up by 14.55% 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, 19 million more shares were traded than the day before. In total, 23 million shares were bought and sold for approximately $4.63 billion.

The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $208.46 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 54.57% during the next 3 months and, with a 90% probability hold a price between $249.79 and $322.21 at the end of this 3-month period.

The Moderna 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 $178.76 and $169.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, December 12, 2022, and so far it has risen 21.20%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $179.78 and $164.04.There is a 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 finds support just below today's level at $179.78. If this is broken, then the next support from accumulated volume will be at $164.04 and $158.41.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $24.50 between high and low, or 13.31%. For the last week, the stock has had daily average volatility of 7.00%.

Moderna 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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Buy candidate.