At a weekly time frame, this stock is the next thing to blow out. With phase 3 trials expected in July, the potential of MRNA could be huge in upcoming weeks.
With wave-1 and wave-2 already formed, market is now forming wave-3 which may lead the price to possibly $140-160 zone.
(Note: Please ignore the markings for wave-4 and wave-5)
What do you think about this idea? Leave your comments below.
Disclaimer: This is not a financial advise. Please make your independent decisions while making an investment.
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Trade was closed earlier in August when MRNA made a high of $95.21 and then dropped back to 60s breaking the trend line.
Do you see the stock dropping a bit more before it goes up?
mustafa_bey
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@Stkmk, If you notice on daily and 4h time frame, market is forming an ascending triangle. This is making the whole setup range bound $59-66. If we drop and close below the trend line on daily, the idea invalidates.
emsl19
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I think MRNA just finished .618 retrace and ready to go.