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- 1 Moderna earnings report will be released on November 2nd, 2023.
- 2 MRNA stock price is currently trading at $71.91 with an intraday loss of 5.36%.
The earnings report is expected to strongly influence price movement. If the earnings numbers are better than expectations, then the stock price will surge sharply but if the company misses the expectations, then the stock might see new lows.
Moreover, Moderna is expected to report dips in the earnings report. Zacks Consensus estimates that the company will post a quarterly loss of $1.80 per share, a change of -171.2% year-over-year.
Why is Moderna a Potential Stock?
Moderna is now a well-known name because of its COVID-19 vaccine which is its only product. The company is set to launch more than 15 products in the next five years. If the company successfully launches these products, it could be a game-changing move for them as it is expected to boost the annual revenue to $30 Billion.
These products will be for rare diseases, oncology, and respiratory diseases like coronavirus. Moderna is also preparing to launch a vaccine for respiratory syncytial virus and a combination shot to prevent coronavirus and flu in 2024 or 2025.
Given its product plans and its present financial status, there’s a positive outlook for the stock.
What’s Happening on the MRNA Stock Charts?
Moderna stock resumed the downtrend which indicates further weakness in the market. The stock is trading below the dynamic support trendline, which could lead to a further drop. The lower lows pattern suggests that the stock is in a downtrend in the longer term.
At press time, MRNA stock was trading at $71.91 with an intraday loss of 5.36%, trading below the 200-day EMA, showing bearishness on the charts. Moreover, the intraday trading volume declined to 5.441 Million, less than the average 10-day volume of 5.457 Million. The market cap of MRNA stock is $27.368 Billion.
Moderna stock price has been falling from its peak levels and forming lower-low structures. It is in a bearish trend after breaking below the 20-day and 200-day moving averages. The bearish pressure could push MRNA to form a new lower low soon and extend the downtrend.
The current situation requires MRNA traders and investors to be patient and wait for a clear signal of a break above or below the range before making any moves. They should also avoid FOMO and minimize losses.
Moderna stock price fell 12.44% last week and declined by 27.19% through the month. Furthermore, MRNA shares experienced a drop of roughly 44.70% over the past six months and a decrease of 49.85% over the past year.
Additionally, the MRNA share price has slipped by approximately 60.24% year to date. These trends collectively highlight the challenges faced by Moderna stock throughout the year.
Indicators Analysis of Moderna Stock Price in 1-D Time Frame
Presently, Moderna stock (NASDAQ: MRNA) is trading below the 50 and 200-day simple moving averages (SMAs), which are not supporting the price trend. If the bulls want to make a comeback, they will have to rise and sustain the price above the 200-day SMA. However, the sellers seem to be more aggressive as compared to buyers.
The current value of RSI is 18.08 points. The 14 SMA is above the median line at 29.19 points which indicates that the Moderna stock is bearish.
The MACD line at -7.92 and the signal line at -6.04 are below the zero line. A bearish crossover is observed in the MACD which signals more bearishness for the MRNA stock price.
Analyst Take on Moderna Stock Price
There is a mixed opinion among 24 analysts who follow Moderna stock. Almost 11 of them rate Moderna as a ‘Strong Buy,’ while 2 give it a ‘Buy’ rating. 9 of the analysts recommend ‘holding’ the stock, and none of them advise selling it. Only 2 of the analysts gave a ‘Strong Sell’ rating for MRNA stock.
Moderna stock has an average price target of $173.49, which implies a potential increase of 141.26% from its current price of $71.91. The price targets vary from a high of $430.00 to a low of $64.00.
Technical Levels
Support Levels: $65.00 and $55.00.
Resistance Levels: $96.30 and $100.00.
Conclusion
Moderna’s stock is not reasonably-priced in comparison to other biotechnology corporations, however, it can have a few capabilities to head up if the organization can keep growing its enterprise, make more money, and feature lots much fewer troubles.
The enterprise may also gain from more countries making COVID-19 vaccines mandatory or booster images to be had, which could create a greater call for its products. The business enterprise may additionally benefit from growing new products for other diseases, including flu, HIV, and cancer.
Moderna stock price prediction suggests a bearish chart. The sellers are dominating from the higher levels. Moderna (NASDAQ: MRNA) technical oscillators also support the bearish trend. The MACD, RSI, and EMAs are bearish and imply that the downtrend may continue in the MRNA stock price.
Moderna price action suggests that the investors and traders are bearish on the 1-day time frame. Technical analysis suggests that the Moderna stock price is in a bearish grip and the probability of testing the previous highs in the coming months remains low.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
