A Real Money subscriber emailed me, noting that "Moderna ( MRNA) looks like it might find support in the $160-ish area. I'm watching for an entry point. What are your thoughts?" Let's check out the charts. 
In this daily bar chart of MRNA, below, we can see that prices have been in a downtrend since making a high in early August. There have been some bounces along the way but they have not lasted long. MRNA is trading below the declining 50-day moving average line and below the cresting 200-day moving average line. Earlier this month the 50-day line crossed below the 200-day line for a bearish dead or death cross. This sell signal is obviously very late.
The On-Balance-Volume (OBV) line peaked before prices in July and continues to point lower. A weak OBV line tells you that sellers are being more aggressive. The 12-day price momentum study in the lower panel shows a pattern of higher lows from October even as prices have made lower lows. This difference in movement is a bullish divergence. This divergence can foreshadow a rally but the timing of any rally is very hard to pin down.
In this weekly Japanese candlestick chart of MRNA, below, we see a weak picture. Prices are in a downtrend below the cresting 40-week moving average line. The candles have yet to show us a bottom reversal pattern.
The weekly OBV line is in a slow descent. The Moving Average Convergence Divergence (MACD) oscillator is bearish.
In this daily Point and Figure chart of MRNA, below, we can see a projected downside price target in the $151 area.
In this second Point and Figure chart of MRNA, below, we used weekly price data. Here the software projects a bearish target of $44.
Bottom line strategy: My wife and I both got the Moderna vaccine and booster so we don't mind rolling up our sleeves to get vaccinated. The question for investors is what is a good level or area to consider going long the stock. With a downside price of $151 from the Point and Figure chart and no signs of "throw in the towel" volume, I am in no rush to recommend purchase.
