MRNA stock buy trade idea: Moderna was one of my trade ideas based around the Coronavirus and the lockdown. In fact most of my stock ideas at this time were influenced by the virus and working from home.
Note: Moderna first alerted on the Premarket Stock Screener that I use.
I posted the chart below of Moderna Inc on Twitter on the 17th march 2020.
I post to twitter so you can see a time-stamp as proof. Below is a screenshot of the bigger MRNA stock chart that was posted.
Click chart to enlarge.
Moderna had broken out above $24 and was starting a new uptrend. Any pullback was also a buying opportunity. MRNA had shown up on one of my technical scans, when the stockmarket was in an aggressive downtrend.
The fundamental catalyst driving Moderna (MRNA) was their research into a Coronavirus treatment. As you can see from my tweet on the 17th march,
“MRNA moving on news that it has dosed the first patient in a phase I study, evaluating its vaccine, mRNA-1273, against the novel coronavirus“.
MRNA Stock Buy Trade – Update 17th April 2020
With continued news about Moderna’s drug trial during the past month, the stock price has trended higher. The stock price had a big gap up on friday 17th April 2020 of 15.39%, exactly a month after my tweet.
This was due to news that Moderna had agreed to a deal with the US Government for $483m to accelerate its testing of their vaccine.
That is a gain of 60% to 90% depending on whether entry was on the breakout or pullback. See the MRNA chart below for details.
Click chart to enlarge.
MRNA Stock Buy Trade – Update 20th July 2020
Click chart to enlarge.
With continued good news from results and further Government backing, the stock is now up over 240% since first mentioned here as a trade.
After a big move it would be sensible to take some profits, as I expect a pullback now. As for the final exit, that is up to each individual depending on your trading style and timeframe.
NOTE: Many Biotech drug trials fail. The idea is not to believe the hype, and trade the moves, in and out quickly. If you do believe in a company, at least lock in profits by using a trailing stop loss, or take partial profits.
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These are NOT stock tips. Please note these are just trade ideas that I may, or may not take. It just helps me to focus by writing them down. I also do not give exits as I have various readers from Day Traders to long term Investors. Each of you have to do your own research, and use your own exits that suit your style of trading.
Disclaimer: This information is for educational purposes only, and NOT a trade recommendation. these are just trade ideas that require more due diligence and research on your part. I may or may not take the trades myself.
