What next as Moderna finds support at $130?

  • May 13, 2022
  • 11 Views

Moderna Inc. (NASDAQ:MRNA) has been strong since it rolled out COVID-19 vaccines. The demand for vaccines has started to slow down. The current year’s sales are projected to decline. Investors need to know what to expect from a company that is perfectly rated for value, growth, and momentum.

COVID-19 vaccine is the most successful of Moderna’s products but not the only one. The company has continued research on other mRNA vaccines and drugs. Products in the company’s pipeline are at various stages of clinical research and success. We expect to hear more about new products from the company in the coming months.

A more important consideration is that Moderna may move to snap deals in mergers and acquisitions. The crash in valuations of biotechnology stocks after the COVID-19 rally creates opportunities for M&A. Moderna has $19.3 billion in cash that it could invest in deals.

Moderna technical analysis shows key support holds

Source – TradingView

Technically, Moderna is trading at a valuation of $130. The valuation is at an important support level. The intra-week lowest price was $119. This analysis considers that the support level of $130 is likely to hold. The stock is also likely to establish a consolidation pattern around $130. This analysis projects consolidations to be between $130 support and $160 resistance.

Summary

Moderna will record declining sales for COVID-19 vaccines. New products and possible mergers and acquisitions will power the next phase of growth. Moderna will consolidate between $130 and $160 in the meantime.

The post What next as Moderna finds support at $130? appeared first on Invezz.

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