Moderna ( MRNA) has been cut in half since December and may now look more attractive to investors.
Let's check out the trends, charts and indicators of MRNA.
In this daily bar chart of MRNA, below, I can see that prices have worked lower since December with a number of bounces along the way. Prices are now testing the declining 50-day moving average line, but are well below the negatively sloped 200-day moving average line.
The On-Balance-Volume (OBV) line has been weak since December. The Moving Average Convergence Divergence (MACD) oscillator is just slightly below the zero line and thus close to a buy signal.
In this weekly Japanese candlestick chart of MRNA, below, I see a chart that is not ready to start an advance. Prices trade below the declining 40-week moving average line. The weekly OBV line is flat to down from the beginning of the new year. The MACD oscillator is bearish.
In this daily Point and Figure chart of MRNA, below, I can see a downside price target in the $91 area.
In this weekly Point and Figure chart of MRNA, below, I can see that prices reached a downside price target in the $102. area.
Bottom line strategy: I would look for shares of MRNA to trade sideways for several months. The base-building phase is often drawn out and frustrating.
