MRNA is testing support.
It should break out of the pennant soon.
Taking into account the news, I think the break out will be on a positive note.
"The U.S. Food and Drug Administration released a 54-page document outlining Moderna’s (MRNA) request for an emergency use authorization (EUA) Tuesday, bringing the biotech one step closer to the finish line.
Though it is widely anticipated that an EUA is issued by the weekend, based on the precedent set by Pfizer (PFE) and BioNTech (BNTX) last week, the exact timeline still remains unclear. The FDA’s vaccine advisory committee is slated to meet December 17 to vote on recommending authorization of the vaccine in adults 18 and older."
Adding to my position now.
It should break out of the pennant soon.
Taking into account the news, I think the break out will be on a positive note.
"The U.S. Food and Drug Administration released a 54-page document outlining Moderna’s (MRNA) request for an emergency use authorization (EUA) Tuesday, bringing the biotech one step closer to the finish line.
Though it is widely anticipated that an EUA is issued by the weekend, based on the precedent set by Pfizer (PFE) and BioNTech (BNTX) last week, the exact timeline still remains unclear. The FDA’s vaccine advisory committee is slated to meet December 17 to vote on recommending authorization of the vaccine in adults 18 and older."
Adding to my position now.
Comment:
Heading to fill the gap @ 109?
Comment:
Now I see two possible scenarios for the next month
No more pennant of course. Nor do I think it is a blow-off top.
I guess we see a descending channel here. Plus, possibly, confirmation of a support @ 136.85. If it is not broken today, we may go up from here. Moreover, RSI is below 30.