Moderna (MRNA) shares soared Tuesday as investors placed bets that the pharmaceutical giant’s development of an 澳洲幸运5官方开奖结果体彩网:H5N1 bird flu vaccine could boost sales af﷽ter the first death linked to the disease was reported inꦅ the U.S this week.

The stock, which rose 12% to $47.53 on Tuesday, is off to a good start this year after losing more than half of its value in 2024. In recent years, the drugmaker’s 澳洲幸运5官方开奖结果体彩网:sales have contracted amid dwindling demand f﷽or its Covid-19 product🔥s, while it has continued to increase spending on research and development into new drugs.

Below, we break down the 澳洲幸运5官方开奖结果体彩网:technicals on Moderna’s chart and 🅺point out important price levels that investors may be watching.

Decisive Close Above 50-Day Moving Average

After breaking out from a 澳洲幸运5官方开奖结果体彩网:descending channel last month, Moderna shares have continued to trend higher, with the stock on Tuesday closing decisively above the respected 澳洲幸运5官方开奖结果体彩网:50-day moving average (MA) on the highest volume since December’s 澳洲幸运5官方开奖结果体彩网:triple witching trading session.

Moreover, the 澳洲幸运5官方开奖结果体彩网:relative strength index (RSI) confirms bullish momentum with a reading above 65, but also sits below 澳洲幸运5官方开奖结果体彩网:overbought levels, givi൲ng the stock sufficient room to test h🅰igher prices.

Let’s identify three key overhead areas where the shares could run into 澳洲幸运5官方开奖结果体彩网:resistance and also point out several important levels that could provide support during pullbacks.

Key Overhead Areas to Watch

The first overhead area to watch sits around $57. The shares could encounter selling pressure in this region near the upper level of a 澳洲幸运5官方开奖结果体彩网:consolidation period that formed within the descending channel between🐟 Octo🔯ber and November last year.

A close above this level could see the shares climb to the $72 area, a location on the chart where they may face resistance near the early-September low and subsequent 澳洲幸运5官方开奖结果体彩网:countertrend peak later that month.

Further buying may propel a move up to around $85. Investors who have purchased the stock at lower levels could look to offload shares at this level near a multi-month 澳洲幸运5官方开奖结果体彩网:horizontal line that connects the prominent February low with a series of comparable price points throughout August. Depending on the timing of such a move, this region could also find resistance from the nearby falling 澳洲幸运5官方开奖结果体彩网:200-day MA.

Important Support Levels to Monitor

During 澳洲幸运5官方开奖结果体彩网:retracements, investors should initially keep a close eye on the $44 level. This location on the chart finds a 澳洲幸运5官方开奖结果体彩网:confluence of support from the 50-day MA and a short-t𒈔erm trendline extending back to mid-November.

Finally, a 澳洲幸运5官方开奖结果体彩网:breakdown below this level opens the door for a potential retest of the $37 level, a region where investors may look for buying opportunities around the November 澳洲幸运5官方开奖结果体彩网:swing low.

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