The G20 summit took place in Bali, Indonesia, on November 2022…
Information is not investment advice
Moderna skyrocketed by 10.5% in pre-market hours on Wednesday. Can you imagine what may happen when the stock trading opens? The jump was caused by the National Institutes of Health, which has started testing Moderna's experimental Covid-19 vaccine to fight against a coronavirus variant that first appeared in South Africa. Unfortunately, the current vaccines aren’t so good at preventing this mutation, but they still provide some protection. They were designed for the original Covid-19 virus.
What does it mean?
The bad news is that South African’s variant is more contagious and it was already found in at least 20 other countries. The good news is that Moderna’s scientists are already working to create a new vaccine, which will be effective against this variant. The NIH expects test trials will be ready already by the end of April. If the results show the vaccine is safe and effective, Moderna’s shots will be quickly delivered to the market. Actually, on April 14, Moderna will hold the virtual Vaccines Day event, where the company will share some interesting details, which will add volatility to its stock.
Meanwhile, 15 million doses of Johnson & Johnson's Covid-19 vaccine were mixed up. Thus, the deliveries will be delayed. In contrast to Johnson & Johnson’s failure, Moderna looks much better.
Moderna is moving back and forth inside the broad ascending channel. It has approached the 100-day moving average of $136.00. If it manages to break it, the way up to the high of March 22 at $146.00 will be open. After that, Moderna may rise to the one-month high of $155.00. In the opposite scenario, if it drops below the lower trend line of $118.00, the way down to the 200-day moving average of $103.00 will be clear.
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