The Moderna stock price has surged 84% in a month. But today investors will find out if MRNA can add to the gains when the Q2 numbers are released.
Moderna Inc (NASDAQ: MNRA) finished Wednesday with its latest all-time high closing price of $419.05. This marks an incredible run for the Pharma giant over the last year.
On the 6th of July 2020, MRNA was trading around $58.00. last nights closing price was over 600% higher. Not to forget the Moderna stock price has gained more than 2,600% in the last two years.
Clearly, conditions have been optimal during the Covid-19 pandemic. Furthermore, the Moderna vaccine could generate income for years to come.
The global vaccination push has prompted the firm to raise its 2021 vaccine supply target to 800m-1 billion doses. This is expected to result in Moderna’s first profitable year of trading.
One thing is obvious on the daily chart. The Moderna stock price has been in a clear uptrend for the last two years.
Furthermore, a defined rising trend channel from May 2020 has been a significant level of support and resistance.
Yesterday’s $433.00 almost perfectly tagged the upper-end of the channel. And should the price clear $433.00 this could be considered a breakout, potentially leading to an extension into unchartered territory.
However, this is a significant area of resistance and a disappointing data dump could send the price sharply lower. In that event, the bears would target the 15th of July $260 high, around 38% below the last trade.
And that tells you everything you need to know about MRNA’s recent performance.
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