On July 11, major health stocks, including Novocure Ltd. (NASDAQ: NVCR), Moderna Inc. (NASDAQ: MRNA), and Amgen, Inc. (NASDAQ: AMGN) fell by an average of 1%, although NVCR was among the major losers in the last trading session.
On Tuesday’s trading session, NVCR stock opened trading at $41.96, lowering to $40.19; it hit a high of $42.02 and closed at $40.54 with an intraday trading volume of 2.32 Million. The stock lost $1.39 of its trading price in the same session.
After analyzing the technical aspects of NVCR stock, stock prices have reflected a severe downtrend in the past few sessions. The stock’s current trading price is below its support level of $50 and is trading around the 52-week low.
NVCR stock is trading below 200, 50 days EMAs, and the prices might be rejected if a short-term pullback occurs in the upcoming session. Although, if the trading price breaks $54, it might reflect a short-term upper trend. If NVCR stock continues to decline, its next support level will be $26.
The annual price target of $66.60 is around 64.28% greater than the current trading price. In the monthly time frame, prices slipped more than 10.98% and 38.62% in a quarter.
Market analysts are neutral on NVCR stock. The declining prices might be the result of lawsuit against them per sources.
The lawsuit seeks to recover losses on behalf of NovoCure investors adversely affected by alleged securities fraud between January 5, 2023, and June 5, 2023
MRNA Stock Price Analysis
Moderna Inc. (NASDAQ: MRNA) stock dropped significantly in its last trading session and is currently trading near its 52 week low. The price continues to decline because it is trading below the 200, 50 Day EMAs.
MRNA stock recently formed and displayed a death crossover nearing its long-term demand zone. According to the relevant data, stock prices shed more than 35% in just half a year.
After analyzing the technical aspects of MRNA stock, the immediate resistance identified is $142. If it breaks this resistance level, the next resistance of the stock is $163. If the price drops below the immediate resistance, it might fall in the demand zone.
As per market watchers, if MRNA stock succeeds in breaking the long-term demand zone, then the sellers might drag the prices down to $100. Moreover, if the price took a U-turn from the demand zone, it may once again hit $142.
AMGN Stock Price Analysis
Amgen, Inc. (NASDAQ: AMGN) stock reflects a severe decline, losing over 17% in 6 months. However, the price slipped over 15% since its recent high swing.
In Q1 2023, Amgen Inc. price reacted according to the reported revenue as the reported revenue fell over 0.80%. Post-earnings prices also fell significantly. The negative earnings and declining prices of AMGN stock are troubling long-term investors’ sentiments.
Amgen’s Q2 earnings will be released on August 3. Before the earnings, it is assumed that the company’s earnings might have surged compared to estimated figures, and AGN prices might follow the positivity.
The immediate resistance of AMGN stock is $232, and if it crosse this level, its next resistance will be $256. If the price slips below immediate resistance, then it might face support from $210 and then $198.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/07/12/nvcr-mrna-and-amgn-stocks-fell-intraday-pre-earnings-tension/