The Share Price of Moderna (MRNA) Surged Over 10% in a Day
As shown by the chart of pharmaceutical company Moderna (MRNA):
2024 was an extremely difficult year, with the price falling by approximately 60%;
however, in early 2025, we can see signs of renewed strength.
During yesterdays session, Modernas (MRNA) share price rose by more than 10%, following news of the first death in the US from H5N1 bird flu. According to Barrons, Moderna is one of the few pharmaceutical companies currently developing a vaccine for H5N1 bird flu, which is spreading rapidly across North America.
This brings back memories of 2020, when MRNAs share price surged with a significant bullish gap on news of the COVID-19 vaccine trials.
Interestingly, the 2024 low is near the lower boundary of the 2020 gap, around the $37 level. From a technical analysis perspective, this gap closure could be viewed as a bullish sign, supported by yesterdays price action.
Additionally:
there has been a breakout above the descending trend channel that dominated the end of 2024;
it is possible that price movements may form a new ascending channel (shown in blue);
further growth may be hindered by the psychological resistance level of $50.
According to TipRanks, analysts remain cautious about Modernas prospects:
only 4 out of 19 analysts recommend buying MRNA shares;
the average 12-month price target for MRNA is $62.
Read more: https://fxopen.com/blog/en/oa-the-share-price-of-moderna-mrna-surged-over-10-in-a-day/
Text source: Forex Trading Blog
