Moderna Stock News and Forecast: MRNA regroups as earnings near

MRNA stock falls as equities sell-off on bond yields.
Moderna is due to report earnings on November 3.
Moderna gets EMA approval for expanded use of its covid vaccine.

Ivan Brian FXStreet

Modena (MRNA) stock fell sharply on Wednesday when it closed at $123.84 for a loss of nearly 8%. The move seems curious and exceeds that of peer Pfizer (PFE) and Novavax for example.

Moderna stock news

Moderna on Wednesday got a recommendation from the European Medicines Agency (EMA) for expanded use in those aged 12 and older for Moderna's adapted covid vaccine, which targets subvariants of Omicron. The adapted vaccine targets new strains BA.4 and BA.5 and is recommended for those who are already vaccinated. Also, the US CDC voted in favor of including covid vaccines already approved for children into the federally funded Vaccines for Children program. This provides free vaccines to children whose parents may not be able to afford the vaccines.

Moderna stock forecast

Moderna has fallen significantly in 2022 and has attempted to form a bottom on several occasions. We can see from the highlighted area how well $120 has worked as support as this sell-off again has targeted the $120 zone of support. Earnings could provide the next catalysts as investors look for alternative revenue streams as covid hopefully winds down and exits stage left. Good riddance! Recent news of a deal to jointly develop a cancer vaccine between Moderna and Merck was well-received by the market. Investors will look for more information in the earnings call.

Holding $120 would see $143.80 as the first resistance and then $152 from the 200-day moving average.

MRNA stock daily chart on a solid downtrend

Moderna daily chart

On the weekly chart below we can see just how key this $120 support is. Beneath is a volume gap until $80!

MRNA stock weekly chart shows long-term neckline support

Moderna weekly chart

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Ivan Brian

FXStreet

Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.