MRNA (TESLA of biotechnology) towards new highsAfter making a major price correction throughout December, MRNA started in 2021 a new upward movement that is ongoing and leading it to new highs.
Note that
1) the correction was made with a very large volume, which means that the shares left the portfolios of the many and passed into those of the few
2) the RSI has not yet entered the overbought area and
3) it is possible (but perhaps not necessary) to retreat prices close to the previous peak to create a cup-forming handle.
MRNA's upward move is supported by both the expected big sales revenue of its vaccine for Covid-19, and a promising large pipeline of new drugs and vaccines
comprising 27 products under development.
MRNA as well as INO is likely the TESLA of Biotechnology.
Following is presented the short-term trend chart of the stock.
Disclaimer
The author of this text is not an investment advisor. The preceding content is intended to be used for informational and educational purposes only.
It is not an advice or inducement for the purchase or sale of the products mentioned. Before making any investment based on your own personal circumstances,
it is very important to do your own research and analysis and also take independent financial advice from a professional to verify any information provided here.
