Moderna attacks pivotal resistance - Analysis - 04-08-2022

Moderna's stock (MRNA) surged after maintaining sales directives for 2022 for its Covid 19 vaccine, even as deliveries decline, with results nonetheless beating estimates, with the stock surging 15.97%, or 25.68 points, and settling at 186.49, with trading volumes surpassing 13.7 million shares above 10-day averages of 4.3 million shares. 

The upward correctional short-term wave dominates, buoyed by trading above 50-day SMA, with positive signals from the RSI, after reaching oversold levels, tackling the important resistance of 188.00.

Therefore we expect more gains for the stock, targeting the resistance of 233.50, provided the initial resistance of 188.00 was breached.

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Expected trend for today: Bullish