Vaccine and medicine maker Moderna (MRNA) has slowly made a base pattern that could support a rally in the next few weeks. Let's check out the charts and indicators.
In this daily bar chart of MRNA, below, we can see bottoming action from March. Prices have been finding buying interest (support) around $125 a number of times. Prices have moved above the 50-day moving average line. The slope of the 50-day average line is bottoming. The slower-to-react 200-day line still has a negative slope and intersects around $210.
The On-Balance-Volume (OBV) line has been bottoming since February and in June we can see a fresh rise in the line telling us that buyers have become more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is on the zero line and ready to generate a new buy signal.