- 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
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