Moderna (MRNA) shares may remain under the microscope on Tuesday after sinking to a five-year low following ne𓂃ws that the Food and Drug Administration’s top vaccine official, Peter Marks, has res🎃igned.

Marks, who helped oversee the development of COVID-19 vaccines, said he would leave his role by the end of this week, citing conflicts with Health and Human Services Secretary Robert F. Kennedy Jr. The resignation follows The Wall Street Journal reporting Friday that Marks was given a choice to resign or be fired.

Moderna shares have lost nearly a third of their value since the start of the year through Monday’s close and trade 95% below their August 2021 Covid vaccine-driven 澳洲幸运5官方开奖结果体彩网:record high. The 🦄stock led S&P 500 decliners on Monday, falling 8.9% to $28.35.

Below, we take a closer look at the 澳洲幸运5官方开奖结果体彩网:technicals on Moderna’s 澳洲幸运5官方开奖结果体彩网:weekly chart and identify key price levels that 🌺investors may be eyeing.

Hammer Candle Emerges

Since an upswing ran into selling pressure at the 200-week moving average last May, Moderna shares have remained in a steep 澳洲幸运5官方开奖结果体彩网:downtrend.

It’s also worth pointing out that the 澳洲幸运5官方开奖结果体彩网:relative strength index (RSI) has remained below the 50 threshold since July last year, indicating strong downward momentum in the stock’s price.

However, in a small win for the bulls, the shares closed well above their session low in Monday's trading session to form a hammer, a bullish 澳洲幸运5官方开奖结果体彩网:candlestick pattern with a small body an👍d long wick ꦫthat signals a shift from selling to buying pressure.

Let’s identify key 澳洲幸运5官方开奖结果体彩网:support and resistance levels on Moderna’s chart by applying 澳洲幸运5官方开奖结果体彩网:technical analysis.

Key Support Levels to Eye

A close below the hammer pattern could see the shares continue their slide to around $23. Investors may seek buying opportunities in this area near the high of the stock’s first week of trading after 澳洲幸运5官方开奖结果体彩网:going public in late 2018, a location that also closely aligns with minor peaks on the chart in February 2019 and Febru♑ary 2020.

The bulls’ failure to defend this region opens the door for a drop to lower support at the $13 level. The shares could encounter support in this location just above their 澳洲幸运5官方开奖结果体彩网:record low near several troughs that formed on the chart 𒀰between December 2018 and♑ October 2019.

Important Resistance Levels to Watch

An initial recovery effort in the stock could see a retest of overhead resistance around $36. This location on the chart may attract selling pressure near the February 澳洲幸运5官方开奖结果体彩网:countertrend high and early-November low, which also aligns with price spikes in February and March 2020.

Finally, a more-significant trend reversal may see Moderna shares climb to the $68 level. Investors who have 澳洲幸运5官方开奖结果体彩网:accumulated shares at lower prices could look for 澳洲幸运5官方开奖结果体彩网:exit points in this region near a trendline that conꦇnects a range of consolidation in late 2020 with the p𝓰rominent November 2023 swing low.

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