- Moderna (MRNA) shares closed up 1.5% on Thursday at $251.60.
- Omicron surges globally and booster shots are in demand.
- Moderna (MRNA) remains volatile as the last earnings report highlighted.
Moderna (MRNA) shares rose on Thursday as the omicron variant continues its global spread. The WHO reported record covid-19 cases this week and booster shots are now being administered by most developed countries who have strong vaccine supplies. Israel is to begin administering a fourth dose of covid vaccines.
Moderna (MRNA) stock news
According to the New York Times today the Federal Drug Administration (FDA) is said to be very close to approving vaccine boosters for use in 12 to 15-year-olds. Toronto meanwhile looks to follow Israel's lead and is set to announce a fourth dose for nursing home residents. Moderna's last earnings were disappointing but all this increased demand may underpin the next quarter.
Moderna (MRNA) stock forecast
The news is negative in terms of infection rates but this is taken as a positive for vaccine manufacturers. We do note though the lack of follow-through from Moderna's December 20 announcement that its booster provided a strong immune response. MRNA shares rose sharply and were nearly up 10% at one stage but slid sharply and closed 6% lower on the same day. Since then Moderna shares have not been near those levels despite omicron surging and booster shots being widely used. This gives us a bearish background. Positive news but a negative outcome.
Support at $234, $210, $188 and $157. Big volume support at $157. Resistance at $267 to $272 from the 200-day and 21-day MA and yearly VWAP. $321 resistance from the Dec 20 high.
Moderna (MRNA) chart, daily
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD clings to gains near 1.0900 as USD remains weak
EUR/USD has regained its traction and climbed to the 1.0900 area in the American session following a technical correction early in the day. The persistent US Dollar weakness amid improving risk mood allows the pair to keep its footing in the second half of the day.
GBP/USD stabilizes above 1.2300 on BOE day
Following a pullback with the initial reaction to the Bank of England's policy announcements, GBP/USD has regained its traction and climbed above 1.2300. The pair remains on track to post gains for the second straight day as the US Dollar struggles to find demand.
Gold climbs above $1,990 as US T-bond yield push lower
Gold price has gathered bullish momentum and climbed above $1,990 in the American session. The benchmark 10-year US T-bond yield retreated below 3.5% following the rebound witnessed earlier in the day, fueling XAU/USD's rally.
Breaking: Terraform Labs founder Do Kwon arrested in Montenegro: Interior minister
Terraform Labs' founder Do Kwon is arrested, according to Minister of Interior of Montenegro Filip Adzic. This is a developing story and will updated
Ford (F) Stock News and Forecast: $3 billion EV loss leads shares to advance
Ford (F) stock is demonstrating on Thursday exactly why automotive C suites are pivoting to electric vehicles. It is not because of the environment or due to easy profits. It is because the market likes it.