Monitor Moderna’s Price Trends as Stock Drops to 5-Year Lows
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Modern (MRNA) stocks are drawing attention after falling to a five-year low when the FDA's top vaccine official, Peter Marks, resigned. Marks decided to step down due to conflicts with Health and Human Services Secretary Robert F. Kennedy Jr., as reported by The Wall Street Journal. The stock closed significantly above its session low in Monday's trading, forming a hammer candlestick pattern, signaling a shift from selling to buying pressure. Investors are advised to monitor support levels near $23 and $13, alongside resistance levels at $36 and $68. Since May, Moderna shares have been in a downward trend following selling pressure at the 200-week moving average. The Relative Strength Index (RSI) has been below 50 since July, indicating strong downward momentum in the stock price. In case of a close below the hammer pattern, a drop to around $23 is possible, with potential support near the $13 level if the $23 support is breached.

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