Moderna set to join SNP500!

Moderna set to join SNP500!

2021-07-16 • Updated

Why should we pay attention?

Boston-area Moderna was an unknown biotech company before it succeeded with the COVID-19 vaccine. The company gained 1400% from the beginning of the COVID-19 pandemic and on July 21st, it will join S&P 500 index and replace Alexion Pharmaceuticals Inc. It has great financial health as her short-term assets exceed her short and long-term liabilities. What is going to happen with the price? Let’s discuss!

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Source: https://simplywall.st/stocks/gb/software/lse-mode/mode-global-holdings-shares

The greatest example!

On November 17th, 2020, the great news was announced. Tesla was set to join S&P 500 index on December 21st, 2020. Let’s check what had happened with the stock during that period.

On the daily chart, it is visible that the price raised from $410 to $650 and gained 60%. During the next month, the price moved even higher and reached $880. The overall profit was 114%.  

TESLAWeekly.png

On the weekly Moderna’s chart, we can notice that is a lot of growth potential. First, the RSI Oscillator is still lower than 85, which means that bulls have enough power to push the price higher. Second, there is no top shadow on a weekly bar, which indicates traders are not ready to sell the stock on that price level. But it is important to watch how Friday’s trade session is going to finish! If traders decide that even during this session, they are not going to fix their profits, the price will hit the phycological resistance level of $300.

MRNAWeekly.png

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