MRNA BOUNCE TRADE

On May 6th 2021 MRNA was falling pre-market about 7.50% to the $ 150 area.  Upon reviewing the chart we see two critical supports that converge at the same point witht the price drop.  The first is the 50 Day Moving Average, a widely followed Technical Indicator, which was consilidating sideways for the last 3 months providing a positive price support.  The second is the negative 2 standard deviations of the 18 bar Lower Bollinger Band, which happened to be rising with a powerful positve slope to meet the 50 Day Moving Average.

This setup provides a time proven tradeable pattern that any keen trader would pay attention to at the open to enter on postive change trend on a 1 minute, 3 minute or 5 minute chart.  Once in the trade the low of the day would provide the stop-loss and the previous day close, at 162.84, would be the target to exit the trade.

 

Date
Company
Symbol
50 Day Mov Avg.
Low Bol Band
Open
High
Low
Close
Midrange
May 6 2021
Moderna
MRNA
148.79
149.89
148.00
163.47
143.56
160.50
153.52

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