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Hawk’s Nest

Vaccine Leader Breaking Out of Base Pattern Sees Long Term Bull

by | Dec 23, 2022

Moderna (MRNA) stock replacement buys 750 January 2024 $450 calls for $6.40 as the stock is trading at 200 and continues to show strength breaking out of a 1 year basing pattern above 190. The stock has strong support at 190 to 180 while now closing above the yearly value area low for a month straight and can likely see a rally higher in 2023 up to 272 where that 2021 VPOC sits waiting to be tested possibly. MRNA built its basing bottom near the 200 week EMA this year and has now come back into favor as a vaccine name that survived the pandemic selloff from highs. These long term call buyers seem to agree that upside is likely in the next 6 months.