Moderna: is it still the leader in COVID-19 fight?

Moderna: is it still the leader in COVID-19 fight?

2020-05-26 • Updated

While biotech companies are struggling to find the vaccine, investors make bets who’ll win this race.

Moderna has performed really well and skyrocketed close to 250% higher this year so far. If you had invested in it at the right time, you would have doubled or, in the best case, even tripled your account. Does it still have the potential to the upside? Opinions are divided.

On the one hand, Moderna revealed positive phase-1 results for a COVID-19 vaccine on May 18, what made it one of the most promising candidates in this race. The stock price reached its peak at $86 that day.

On the other hand, vaccine experts raised doubts about the potential effectiveness of the Moderna’s vaccine as the company revealed too little information. That pushed the stock price down to $70. Moreover, so many competitors have appeared, more than 100 already.  The main competitor is Pfizer as it uses the same technology as Moderna.

Now everybody’s waiting for the phase-2 results. Follow the news as it can cause price movements. These days the price trades near $70. The retracement line is 73.5. Support levels are 62 and 48.

MRNADaily.png

Consider buying these stocks

Inovio

INO stock has outperformed its competitors in 2020, posting gains over 390%. This is a very reliable company with a long history. It’s famous for its effective treatment to clinic for Ebola in 15 months, nine months for MERS and, six and a half months for Zika. It will release its first tests in June.

Gilead

This biotech company created the first coronavirus treatment that was approved by the government. You’ve probably heard of remdesivir. Clinical trials showed it reduced the recovery time required for some patients. Now the company just donates its medicine to hospitals in a huge amount. The question now is what the price will be when the company starts selling it. Piper Sandler analysts anticipate it may bring up to $2 billion in revenue in 2020. So, this company has a really great potential.

Investors from all over the world focus on biotech stocks now as it’s the great chance to make profit without many efforts. It appears not so often. Don’t miss it!

LOG IN

 

Similar

Latest news

XAUUSD: Will Gold Continue to Rally?
XAUUSD: Will Gold Continue to Rally?

Last week I gave a trade idea on XAUUSD with a target around the $2,020 price line. At the time of writing, XAUUSD already exceeded the target and I’m sure that would leave a lot of people wondering what to expect next. Below, I have presented my view of how I expect the price action to turn out in the meantime.

AUD: Trade Ideas
AUD: Trade Ideas

Last Tuesday, the Australian dollar experienced its steepest drop of the year, falling by 1.18%, following higher-than-expected US inflation figures, which boosted the US dollar. However, the Aussie has since rebounded and is now trading at a two-week high against the US dollar. Investors are...

NZD: The Week Ahead
NZD: The Week Ahead

Commerzbank's analysis suggests a brighter outlook for the New Zealand Dollar (NZD) in the coming months despite recent downward pressure. Factors like broader U.S. Dollar strength and domestic issues have kept the NZD below last year's highs. However, robust labor markets in both New Zealand and Australia and an expected...

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera