MODERNA stock: trade the dip
Moderna was at $177 a while ago. Back then, the market was celebrating the completion of the vaccine trials, and expectations of seeing them finally rolled out to the public made the price soar. What happened next? Days were going by, vaccines have been out there being administered since then, and the virus... hits record daily deaths in the US. So, how to trade that? Trade it fundamentally. You saw the market emotions push the price upwards; now, cooling off, it goes down. Will it eventually go up? Very probably, yes. But not now. Just look at the chart: everything above $95 seems to resemble a rocket blast. That's all emotions, and now, the market is removing them from the price. However, dropping back to $95 might possibly be just too much of a correction. Therefore, a downward retrace to the area of $120 is advised as a currently expected support to be hit. Once the stock is there, watch for the bullish reversal signs, and buy. The stock gives a fundamentally good outlook, so a mid-term bullish bet seems to be an appropriate strategy here.
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