Moderna Share Price Climbs Nearly 6% On UK Spikevax Extension

Summary:

The Moderna share price is up by 6% on Tuesday after the UK health regulator approved an extension for the company's Spikevax vaccine.

The Moderna share price is rising this Tuesday after the company secured an extension of the UK’s approval of its coronavirus vaccine. This extension, which the UK healthcare regulator granted, allows the administration of the Spikevax coronavirus vaccine to those aged 12-17 years in the UK.

Also boosting Moderna’s share price is the announcement by the company that it was looking to develop a vaccine targeting HIV, using the same approach that was used to create Spikevax. Shares of Moderna have risen 5.65% on the day.

Moderna Share Price Outlook

The Tuesday price candle bounced off the support provided by the 38.2% Fibonacci retracement level (traced from a swing low of 13 May to the 10 August swing high). This candle has met resistance at the 400.00 psychological resistance. Ahead, 412.32 (23.6% Fibonacci retracement level) and the 440.00 (5 August high) resistance.

On the flip side, a decline below 361.52 allows 342.93 to become a new target. Below this level, 320.47 (27 July low and 50% Fibonacci retracement level) and 279.41 are additional targets to the south.