Photo by Mufid Majnun on Unsplash

Today’s instrument is Moderna Inc.‘s stock traded in NYSE exchange under the ticker MRNA. 

When we look at the MRNA's chart, we see it’s been trading in a slow-paced downtrend since last week, falling from the $150 range to the $140 and subsequently to $125, after yesterday’s harsh pre-market session, due to rising tensions of the Russian invasion in Ukraine. However, the market responded with the usual ‘buy the dip’ mentality, which caused the spike up and the rally from the support level of $125 to the market close of $156, a mere 24% intraday gain. It was last found trading at $156 above the closest support of $140 and the closest long-term overhead resistance of $165.

Moderna Inc. had scheduled a quarterly earnings announcement yesterday 24/02/2022. Earnings expectations were surpassed, with both EPS and Revenue estimations surpassed today could expect the price to move upwards, towards the $168 price range. 

Today we can expect a move towards the $165 resistance level.

If however, it doesn’t manage to hold on to the current level then a move close to the $140 support can be expected.

(Click on image to enlarge)