Moderna's stock (MRNA) declined and leaned on the pivotal support of 122.00, amid the dominance of the downward trend in the short term, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI, marking a loss of 6.7%, or 8.89 points, and settling at 123.43, with trading volumes surpassing 7.4 million shares, matching 10-day averages.
The biotech company reported the financial chief officer has left the company just two days after taking the position after reports of financial misconduct in a previous job, with the company now seeking a replacement.
We expect more losses for the stock, targeting the first support at 90.85, provided the pivotal support of 122.00 was reliably breached.
Expected trend for today: Bearish.