Moderna set to join SNP500!

Moderna set to join SNP500!

2021-07-16 • Updated

Why should we pay attention?

Boston-area Moderna was an unknown biotech company before it succeeded with the COVID-19 vaccine. The company gained 1400% from the beginning of the COVID-19 pandemic and on July 21st, it will join S&P 500 index and replace Alexion Pharmaceuticals Inc. It has great financial health as her short-term assets exceed her short and long-term liabilities. What is going to happen with the price? Let’s discuss!

Screenshot_2.png

Source: https://simplywall.st/stocks/gb/software/lse-mode/mode-global-holdings-shares

The greatest example!

On November 17th, 2020, the great news was announced. Tesla was set to join S&P 500 index on December 21st, 2020. Let’s check what had happened with the stock during that period.

On the daily chart, it is visible that the price raised from $410 to $650 and gained 60%. During the next month, the price moved even higher and reached $880. The overall profit was 114%.  

TESLAWeekly.png

On the weekly Moderna’s chart, we can notice that is a lot of growth potential. First, the RSI Oscillator is still lower than 85, which means that bulls have enough power to push the price higher. Second, there is no top shadow on a weekly bar, which indicates traders are not ready to sell the stock on that price level. But it is important to watch how Friday’s trade session is going to finish! If traders decide that even during this session, they are not going to fix their profits, the price will hit the phycological resistance level of $300.

MRNAWeekly.png

Similar

Nasdaq 100 (US100): Toward 17750
Nasdaq 100 (US100): Toward 17750

Bullish Scenario: Buy between 17515 and 17600 with TP1: 17681; TP2: 17720 intraday, and TP3: 17750 / 18000 in extension. Bearish Scenario in case of breaking the buying zone: Sell below 17500 with TP1: 17469; TP2: 17421, and TP3: 17358 in extension.

Latest news

XAUUSD: Bears Prepare To Takeover
XAUUSD: Bears Prepare To Takeover

On Friday, the gold price (XAUUSD) retreated from a recent two-week high, facing selling pressure. This decline was driven by hawkish minutes from the FOMC meeting, indicating the Fed's reluctance to cut interest rates. Elevated US Treasury bond yields, supported by a "higher-for-longer" narrative, further weakened demand for gold...

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