Will MRNA Stock Rebound From Lower Levels?
The post Will MRNA Stock Rebound From Lower Levels? appeared on BitcoinEthereumNews.com. Moderna stock price has been on a downtrend throughout the year, as it faced resistance from the higher levels and formed lower lows. This shows that the bears have been in control and that the stock has lost its momentum. The stock has also broken below the key moving averages, which indicates further weakness. The bears has maintained a bearish momentum and are dominating at the higher levels. Moderna (NASDAQ: MRNA) stock has returned to its previous lower level, which could act as a support. Technical analysis suggests that the stock is oversold and could bounce back from the lower levels. However, the stock needs to show some signs of strength and reversal before confirming a pullback rally. Moderna share (NASDAQ: MRNA) price is in a correction phase but trading near the crucial support of $96. MRNA stock price closed the previous session at $98.30 with an intraday loss of 2.46%. If the buyers succeed in defending the current support level, then the possibility of a bounce back will increase. However, if the sell-off continues and Moderna stock drops below lower levels, more downfall is likely. Buyers tried multiple times to break the higher range and expand upwards. However, due to the strong presence of sellers, prices faced rejection. It shows sellers are still active on higher levels. Technical Analysis of Moderna Stock Price in 1-D Time Frame Source: Moderna.1D.NASDAQ by TradingView Moderna price is trading below the downward-sloping 50-day and 200-day EMAs showcasing a downtrend. However, the Moderna price has gone far away from the EMAs. The MACD generated a negative crossover and the histogram is also red indicating bearishness. The current value of RSI is 38.88 points. The 14 SMA is above the median line at 44.03 points which indicates that the Moderna stock is bearish. Weekly-Time Horizon…
The post Will MRNA Stock Rebound From Lower Levels? appeared on BitcoinEthereumNews.com.
Moderna stock price has been on a downtrend throughout the year, as it faced resistance from the higher levels and formed lower lows. This shows that the bears have been in control and that the stock has lost its momentum. The stock has also broken below the key moving averages, which indicates further weakness. The bears has maintained a bearish momentum and are dominating at the higher levels. Moderna (NASDAQ: MRNA) stock has returned to its previous lower level, which could act as a support. Technical analysis suggests that the stock is oversold and could bounce back from the lower levels. However, the stock needs to show some signs of strength and reversal before confirming a pullback rally. Moderna share (NASDAQ: MRNA) price is in a correction phase but trading near the crucial support of $96. MRNA stock price closed the previous session at $98.30 with an intraday loss of 2.46%. If the buyers succeed in defending the current support level, then the possibility of a bounce back will increase. However, if the sell-off continues and Moderna stock drops below lower levels, more downfall is likely. Buyers tried multiple times to break the higher range and expand upwards. However, due to the strong presence of sellers, prices faced rejection. It shows sellers are still active on higher levels. Technical Analysis of Moderna Stock Price in 1-D Time Frame Source: Moderna.1D.NASDAQ by TradingView Moderna price is trading below the downward-sloping 50-day and 200-day EMAs showcasing a downtrend. However, the Moderna price has gone far away from the EMAs. The MACD generated a negative crossover and the histogram is also red indicating bearishness. The current value of RSI is 38.88 points. The 14 SMA is above the median line at 44.03 points which indicates that the Moderna stock is bearish. Weekly-Time Horizon…
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