Take a look at Moderna (MRNA).
After gapping from about $343 to $242, the stock appears to have caught strong support. It’s also oversold on RSI, MACD, and Williams’ %R. From a current price of $242, we’d like to see a near-term bearish gap refill around $343, near-term.
Pushing the stock higher, the company just asked the US FDA to expand the emergency use authorization for its COVID vaccine to include boosters for adults 18 and older.
In fact, according to Physician’s Weekly, “The vaccine manufacturer announced its new filing in a brief statement on Nov. 17, making mRNA-1273 the second Covid-19 shot lined up to receive an expanded booster authorization—rumors that Pfizer and BioNTech planned to request a similar EUA revision began swirling earlier this month, and the FDA is expected to grant the request before the week is out.”
In addition, it looks like a great deal of negativity has already been priced into the pullback.