Candle

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Moderna Stock (NASDAQ: MRNA) price surges 9% in the previous session.</a> </li> 
 <li> <span>2</span> <a>MRNA stock price is attempting to climb above the 50-day EMA.</a> </li> 
 <li> <span>3</span> <a>Moderna Inc. beat the analyst estimates in the quarterly earnings.</a> </li> 
</ul> 
<p>Moderna stock price (NASDAQ: MRNA) shot up 9% in a single day and shows signs of a bullish trend reversal. However, the confirmation of trend reversal will come when buyers are able to break out of the $127 hurdle.&nbsp;</p> 
<p>MRNA stock recovered 18% (approx.) from the 52-week low and formed a bullish reversal pattern. Buyers are attempting to climb above the 50-day EMA to reverse the short-term trend. However, the confirmation is still awaited.&nbsp;</p> 
<p>For the past few months, Moderna stock has fallen by forming lower low swings. During the downfall, buyers tried multiple times to climb above the 50-day EMA but got rejected. It shows the dominance of sellers on the higher levels.&nbsp;</p> 
<p>Moderna Inc. released the previous quarterly earnings on August 3, 2023. It reported an EPS of -3.62 and revenue of $344 Million. The Company beats the EPS as well as revenue estimates by 8.00%&nbsp; and 11% respectively.&nbsp;</p> 
<p>Despite that, MRNA <a href="https://www.thecoinrepublic.com/2023/05/19/moderna-inc-mrna-stock-down-30-ytd-can-it-rally-back/" target="_blank" rel="noopener noreferrer nofollow">stock </a>did not react much and continued the downfall. The downfall halted near $94.00 and the price showed minor bounce buyers are active at lower levels.</p> 
<h2 class="wp-block-heading" id="strong-moderna-stock-are-the-bulls-returning-back-to-track-strong"><strong>Moderna Stock: Are the bulls returning back to track</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/yHKgcmHAU-p5ZDnsR5ip0HfE3P2348iZrk5s1MOhBntPCNJtvU6VErQ6aqo6bPDfqQ587TSU_IShZxmjPumb-WxxV_TZrLABAhNAYZ3AtJ6QaQ_ehqC78RM5H1htbIzO3UMBS8VjHBdlBTSI8nqxJQ" alt="Moderna Stock surges 9%; Is the correction over in MRNA stock?"> 
  <figcaption class="wp-element-caption">
    NASDAQ: MRNA daily chart by<a href="https://www.tradingview.com/x/ux1U7amd/" rel="noopener noreferrer nofollow"> TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>Moderna stock price (NASDAQ: MRNA) is recovering and a rise in the buying volume is also visible. It shows that some genuine buyers have turned bullish and are accumulating the <a href="https://www.thecoinrepublic.com/2023/05/19/moderna-inc-mrna-stock-down-30-ytd-can-it-rally-back/" rel="noopener noreferrer nofollow">shares</a> at lower levels.&nbsp;</p> 
<p>MRNA stock is near to the downward sloping trendline which will act as an immediate hurdle for the bulls. If the buyers succeed to break the trendline then prices might rally to $127.00.&nbsp;</p> 
<p>However, the price will gain momentum only after regaining the $127.00 mark. On the other hand, if the stock price faces rejection from the trendline then it might again test the previous lows.</p> 
<h3 class="wp-block-heading" id="strong-mrna-stock-formed-a-doji-candle-strong"><strong>MRNA Stock formed a Doji Candle</strong></h3>  
<div class="tradingview-widget-container">
  &nbsp;&nbsp; 
 <div id="tradingview_1c7ce"></div> &nbsp;&nbsp; 
 <div class="tradingview-widget-copyright"> <a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a> 
 </div> &nbsp;&nbsp; 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> &nbsp;&nbsp; 
 <script type="text/javascript">

  new TradingView.widget(

  {

  "width": 950,

  "height": 500,

  "symbol": "NASDAQ:MRNA",

  "interval": "D",

  "timezone": "Etc/UTC",

  "theme": "dark",

  "style": "1",

  "locale": "en",

  "enable_publishing": true,

  "allow_symbol_change": true,

  "studies": [

    "STD;Supertrend"

  ],

  "container_id": "tradingview_1c7ce"

}

  );

  </script> 
</div>  
<p>MRNA stock price formed a Doji candle in the previous week. Buyers succeed to give the follow-up momentum which increases the probability of reversal. If the recovery continues and buyers hold the gains then it might generate decent returns for bulls.&nbsp;</p> 
<p>The MACD curve reversed upward and generated a fresh positive crossover. It shows that bulls are returning back to track and more upside is possible. The RSI at 51 slopes upward denoting the strength of the bulls and more for the upside is open.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Moderna stock price (NASDAQ: MRNA) surges 9% and showed initial signs of a bullish trend reversal. The technical analysis suggests that the correction in MRNA stock is over and the possibility of a trend reversal is high.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li>Resistance levels: $127.00 and $142.00</li> 
 <li>Support levels: $100.00 and $94.00</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Moderna Stock surges 9%; Is the correction over in MRNA stock?

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Thecoinrepublic.com

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