How Much Bear is Left in MRNA Stock? Will it Rebound in March?

• Moderna has landed a deal with the US National Institute of Health.
• MRNA stock fell by 0.71% yesterday.

Health-related stocks have surged during the pandemic considering the companies bagging large vaccine contracts from the government. Global restrictions have now been lifted in a majority of countries. It is unlikely that we will see another considerable spike in future. Moreover, other stocks relating to sectors including retail, logistics and more have started to recover at present.

Positive Impacts of Covid-19

Moderna (NASDAQ: MRNA), a biotech company, recently announced a milestone payments system for the US National Institute of Health (NIS), Reuters reported. Currently, MRNA stock was trading at a market price of $139 in the pre-market. The deal centers on a molecular tech focused on stabilizing Sars-Cov-2 spike. According to The New York Times, the company made $36 Billion during the pandemic.

The Wall Street Journal recently highlighted that all the pandemic-related chaos was a result of a mishap in Wuhan laboratory. However, some agencies are sticking to a natural spread as a cause of the covid havoc. Donald Trump pointed to this fact during his presidency, but didn’t reveal the details then.

Covid-19 delivered a negative impact to global markets, however, it did enhance a few areas in people’s lives. James Manyike, a Zimbabwean-American consultant, highlighted in an International Monetary Fund (IMF) article that the pandemic gave rise to the digital economy, specifically remote work and learning.

Ian Bremmer, an American political scientist, opines in the same article that it pushed three geopolitical trends. Deglobalization hindered global supply chains as trade routes remained stiff during this period. Moreover, it brought about the ‘nation’s first’ policy across the globe. It also caused China’s geopolitical rise, opening ways for the country to near the title of global superpower.

MRNA Stock Price Analysis

Moderna shares show quite volatile patterns all over the charts. Moreover, the company also missed its past couple of earning reports by large margins. The stock gained by over 70% between June and August 2022. It fell by around 40% between August and September 2022, leaving the price struggling at around $115.

The stock started creating a head and shoulders pattern in October 2022 which appears to have continued to this date. Nevertheless, this indicates a potential reversal of the current trend. Fib retracement highlights the price has broken 0.382 levels a couple of times in January 2023. Furthermore, the shares recently broke the golden zone and may see another breakdown, causing the stock value below $136.

Bull bear power shows seller dominance in the market meanwhile the price is nearing the oversold zone according to the ultimate oscillator. Currently, the stock holds support at $136.5 and resistance at $154.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.