Green day on Friday for Moderna Inc. stock after gaining 2.3% (Updated on July 30, 2021)
Buy or Hold candidate since 2021-05-17 Gain 120.41% PDF
The Moderna Inc. stock price gained 2.30% on the last trading day (Friday, 30th Jul 2021), rising from $345.64 to $353.60. During the day the stock fluctuated 5.15% from a day low at $342.28 to a day high of $359.90. The price has risen in 6 of the last 10 days and is up by 23.45% 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, 1 million more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately $4.00 billion.
The stock lies in the upper part of a 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 $363.29 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 95.3% during the next 3 months and, with a 90% probability hold a price between $594.23 and $709.50 at the end of this 3-month period.
Signals & Forecast
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 $340.75 and $256.75. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 13, 2021, and so far it has risen 135.94%. 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.
Support, Risk & Stop-loss
On the downside, the stock finds support just below today's level from accumulated volume at $313.59 and $307.33. 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 $313.59. If this is broken, then the next support from accumulated volume will be at $307.33 and $286.43.
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 $17.62 between high and low, or 5.15%. For the last week, the stock has had a daily average volatility of 7.04%.
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. 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.
Our recommended stop-loss: $341.65 (-3.38%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 54 days ago.)
Is Moderna Inc. stock A Buy?
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.
Current score: 4.418
Predicted Opening Price for Moderna Inc. of Monday, August 2, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price August 2, 2021||Current price|
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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.
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