Moderna has become famous for its COVID-19 vaccine, which is the only product it has right now. However, the company has plans to launch more than 15 products in the next five years. These products could change the game for the company, as they could make the annual revenue go up to $30 Billion.
The Moderna stock shot up on the back of Moderna’s Covid-19 vaccine.Moderna is planning to launch 15 new products over the next 5 years, and expects revenue to go up to $30 Billion. The new products will be for diseases, cancer, breathing problems among other ailments.
Moderna Earnings Results
Moderna (NASDAQ: MRNA) reported revenue of $1.83 Billion showcasing a year-over-year decline of 45.6% and EPS of -$1.39 for the span of time compared to $2.53 a year ago.
When the revenue compares to the Zacks Consensus Estimate of $1.33 Billion it showcases a surprise of 37.59% and it also gave an EPS surprise of 30.85% with the consensus EPS estimate of -$2.01. Furthermore, the company reported a Net income of -3.63 Billion with a negative profit margin of -198.25%.
What’s Going on on the Technical Charts?
Moderna price action indicates bullishness, as MRNA stock took a reversal and headed towards the bullish zone and ignored the rejections. The bears are still making short positions and trying to pull back.
Moderna stock showcased bullishness and kept jumping back from the lower levels. Bulls are getting ready to reach the $94 mark. The chart formation shows the bulls’ momentum and signals a positive outlook on the charts. MRNA stock is aiming to break out, and investors are watching it closely.
The price action indicates a strong chart structure with bulls’ dominance, and a long buildup activity was noted. Furthermore, sellers are becoming cautious due to the pullback that trapped bears in the past sessions.
Moderna’s price was at $77.53 and showed an 8.84% uptick in market capitalization during the day’s trading session. The last 24-hour trading volume was 8.881 Million and the last 10 days’ average trading volume is 5.793 Million. This demonstrates that buyers are trying to accumulate in order to surge toward the upper price range.
Technical Analysis of Moderna Stock Price on the 1-D Time Frame
Moderna (NASDAQ: MRNA) stock price has been falling steadily for the past three months, losing 28.80%. It lost 25.89% last month. Currently, MRNA stock is trading at $77.53 and has been trying to reach upper levels after an unexpected surge in price.
Currently, Moderna stock (NASDAQ: MRNA) is trading below the 50 and 200-day simple moving averages (SMAs), which are not supporting the price momentum right now.
The current value of RSI is 37.21 points. The 14 SMA is above the median line at 65.88 points which indicates that the Moderna stock is bullish. The MACD line at -7.33 and the signal line at -7.33 are below the zero line. A bullish crossover is observed in the MACD which signals strength in the momentum of the MRNA stock price.
Weekly-Time Horizon Analysis Moderna
Moderna stock has shown buyers’ strength on the weekly charts. Moreover, the price is above the key EMAs. The RSI curve is near the overbought region at 31, and a positive outlook was noted, indicating bullishness in the stock. The MACD persisted to form green bars, and a bullish crossover was noted, which signals bullish moves.
Summary
Moderna (NASDAQ: MRNA) technical oscillators also support the bullish trend. The MACD, RSI, and EMAs are emphasizing positive signs and imply that the uptrend might continue in the MRNA stock price. Price action suggests that the investors and traders are bullish on the 1-day time frame. The price action reflects a bullish perspective at the moment. However, investors and traders should wait for proper setup for the next move and avoid FOMO.
Technical Levels
Support Levels: $62.92 and $60.00.
Resistance Levels: $96.00 and $105.60.
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
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/11/04/moderna-stock-mrna-earnings-exploring-the-future-potential/