The Moderna stock price has surged 84% in a month. But today investors will find out if MRNA can add to the gains when the Q2 numbers are released.
Moderna Inc (NASDAQ: MNRA) finished Wednesday with its latest all-time high closing price of $419.05. This marks an incredible run for the Pharma giant over the last year.
On the 6th of July 2020, MRNA was trading around $58.00. last nights closing price was over 600% higher. Not to forget the Moderna stock price has gained more than 2,600% in the last two years.
Clearly, conditions have been optimal during the Covid-19 pandemic. Furthermore, the Moderna vaccine could generate income for years to come.
The global vaccination push has prompted the firm to raise its 2021 vaccine supply target to 800m-1 billion doses. This is expected to result in Moderna’s first profitable year of trading.
MRNA technical outlook
One thing is obvious on the daily chart. The Moderna stock price has been in a clear uptrend for the last two years.
Furthermore, a defined rising trend channel from May 2020 has been a significant level of support and resistance.
Yesterday’s $433.00 almost perfectly tagged the upper-end of the channel. And should the price clear $433.00 this could be considered a breakout, potentially leading to an extension into unchartered territory.
However, this is a significant area of resistance and a disappointing data dump could send the price sharply lower. In that event, the bears would target the 15th of July $260 high, around 38% below the last trade.
And that tells you everything you need to know about MRNA’s recent performance.
Moderna stock price chart (daily)
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