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With results coming out soon, is Moderna a good buy now?

With results coming out soon, is Moderna a good buy now?
Health & pharma
Ansh Rathod
Author
Ansh R.
Oct 26, 2021, 07:27 AM
  • Moderna has fallen by over 30% from its highs in September, and the correction may be over now.
  • A target can be set at $420 and for investors willing to hold Moderna for a longer period a new all-time high.
  • A stop-loss can be maintained at $290, and investors must be cautious that results could also not be as strong

Shares of Moderna (NYSE: MRNA) traded 7% higher on Monday, after receiving positive results from their Covid 19 vaccine for kids. Moderna is also announcing their results in the first week of November and investors are expecting strong results, so is this a time to buy Moderna now?

A look at this year’s charts-

A closer look at charts on Monday-

Conclusion

Moderna is looking very strong for the coming weeks, especially after promising results from the Covid 19 vaccines for kids and their upcoming results in early November. Investors can look for opportunities to enter for targets above $420.

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