Underside Test

Even though scenes like this one, this one and this one, are now common, the mainstream still seems to be ‘mystified’ as to the cause.

With all that happening as we speak, Moderna (MRNA) is finding itself potentially rising to test the underside of its trend line break.

Moderna (MRNA):

Weekly un-marked chart

Marked up with trendline break

Zoom in, of potential underside test area.

Summary:

Markets like to test … it’s what they do.

Sometimes, as with the gold hysteria, there’s a story to go along with the action. All intended to herd the easily led into the wrong side of the trade.

So, it could be with MRNA.

There’s all kinds of nastiness in the guise of ‘new strains’ out there; likely to raise their heads before Christmas and probably after as well.

These events may coincide with the previous post about biotech possibly heading for retrace and up-thrust.

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279