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Moderna shares in an exciting position: found bottom after setback? – Chart analysis

Moderna has landed a new vaccine deal: Qatar will source the US company’s COVID-19 vaccine, which is in late-stage clinical testing but has not yet received approval. So not a huge deal for the biotech company, which is currently in the headlines. In the media, the various vaccine projects are currently completely unnecessary and far from the facts into an alleged race of developers – alongside Moderna, among others, the duo BioNTech / Pfizer, Astra Zeneca and CureVac.

It has long been clear that the world will not be able to cope with the corona pandemic with one or two vaccines, simply with a view to production capacities and the urgent need in view of the violent infection events that are flaring up in many regions of the world. Whoever wins this supposed “race” has no monopoly, as the numerous state deals with various manufacturers show.

Despite the pandemic problems that flared up again, including in Europe, stocks of vaccine developers recently came under pressure. Yesterday there were sell signals for the BioNTech share and the Moderna share recently fell from its interim high of $ 81.37 to $ 68.06. The paper is a long way from its all-time high of $ 95.21 in July of this year, but in the last few days the biotech share has stabilized at the EUR 68 mark or just above it after the setback.

When looking at the technical situation on the chart, this is not completely surprising, on the contrary: A support level extends around the mark of 67.25 dollars, the extensions of which extend into the areas around 66.69 dollars and 68.16 dollars. In the event of a break, the next stronger support would be expected at $ 62.50 / $ 64.60. On the other hand, if Moderna’s share price rebounds upwards from the 68 mark, an increase above 72.40 / 73.10 dollars would be seen as a further technical buy signal for the biotech share.

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