What's Next After Moderna Sees Good Earnings And Pushes Higher?

Moderna Inc (NASDAQ: MRNA) shares traded higher Thursday after the company reported better-than-expected earnings per share and sales results.

The company reported earnings per share of $6.46, beating the $6.04 estimate. Sales results came in at $4.4 billion, beating the estimate of $4.28 billion.

Moderna shares were trading even at $416.07 at last check Thursday.

See Also: Moderna Sold Less Than Expected mRNA COVID-19 Vaccine Jabs In Q2; Sees $20B In FY21 Product Sales

Moderna Daily Chart Analysis

• The stock has taken off from the higher low trendline and has been flying higher.
• The stock trades above both the 50-day moving average (green) and the 200-day moving average (blue), indicating the stock has recently seen bullish sentiment.
• Each of these moving averages may hold as a possible area of support in the future.
• As stock has been flying higher, it could start cooling off. If this happens, the stock could start pulling back toward the higher low trendline.
• The Relative Strength Index (RSI) has been moving up the past couple of weeks and sits at 81. The stock has been sitting in the overbought area meaning there are many more buyers in the stock than there are sellers.

What’s Next For Moderna?

Bullish traders are looking to see the stock continue to form higher lows and climb higher. Bulls want the stock to see stock continue to trade above the higher low trendline.

Bearish traders would like to see the stock begin to cool off and start falling toward the higher low trendline. Bears would then like to have the stock cross below the trendline for a possible change of trend.