Moderna (
MRNA
) is in a falling wedge with no signs of escaping (yet). While it may have a small pop if there is good company news, the COVID-19 buying spree may be truly over. The COVID-19 pandemic will soon be an endemic and the market may shift fully away from "COVID-19 tickers". Insiders continue to dump shares. Since the start of 2022, insiders have sold $57 million worth of shares. $10 million of this total in the past 13 days (source: OpenInsider).
I anticipate Moderna to be below $100 in the coming months if it doesn't break the falling wedge's resistance.
MRNA
) is in a falling wedge with no signs of escaping (yet). While it may have a small pop if there is good company news, the COVID-19 buying spree may be truly over. The COVID-19 pandemic will soon be an endemic and the market may shift fully away from "COVID-19 tickers". Insiders continue to dump shares. Since the start of 2022, insiders have sold $57 million worth of shares. $10 million of this total in the past 13 days (source: OpenInsider). I anticipate Moderna to be below $100 in the coming months if it doesn't break the falling wedge's resistance.
Trade closed: stop reached:
❌ Broke through original resistance (likely just a bit higher)