Moderna readies to pierce pivotal support - Analysis - 12-05-2022

Economies.com
2022-05-12 10:37AM UTC

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. 

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