Chief Cook & Bottle Washer
We’re about forty minutes into the session; Moderna (MRNA) has just confirmed the up-thrust reversal discussed in the last update.
It took seven trading days for MRNA, to post a new weekly low below 160.06.
That was plenty of time to perform research like finding this bullish outlook and deciding for oneself, whether to be bull or bear.
This update is brief.
Two charts of MRNA, are shown below.
Price action’s in a channel with the right side declining at approx: – 93.7%, annualized.
Moderna MRNA, Weekly Bar
We’re using MRNA, as the proxy for the biotech sector.
The previous report showed a weak 23.6%, retrace and potential reversal.
With today’s print below 160.06, it looks like an initial confirmation of the right-side trend line (not advice, not a recommendation).
Charts by StockCharts
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