MRNA momentum is unpredictable; a break above 190 could lead to a pullback toward 175 before further upside.
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there is a question from one of our viewers. He asked what you think of mRNA and how this bull flag originated. Do you think there will be a continuation, or do you think the momentum will slowly fade?
I look at it and say that no one can predict where the momentum will fade. So instead, I look at it and say: look at the 30-minute timeframe, and it is innocent until proven guilty.
It moves along with this rising 5-day moving average. So I would say that you should look at the most recent relevant higher low above that 5-day moving average. So I think that if we break through the 190, the most likely scenario for mRNA is that it does something like this: maybe we start to divide, break through that lower bottom here, see a lower top, get stuck below the 5-day average, and then maybe pull back a bit towards the 175, and then it is ready to rise again.
So, I would say that you should at least manage part of the position from a swing trading perspective and raise the stop-loss below these higher lows above the rising 5-day moving average.
So, if it reaches a higher peak the next day, for example, you raise your stop-loss below this level. So keep listening to the stock and let it determine where you close part of your position.
That way, if things go completely wrong, you have at least exited part of your position, or if it falls back and you want to buy more, you still have your core position and can expand it again.
What this channel has said about $MRNA
Brian Shannon has 4 calls on this stock; only the adjacent ones are shown.