What’s next as Moderna finds support at $130?

Moderna Inc. (NASDAQ:MRNA) has been strong since rolling out COVID-19 vaccines. The demand for vaccines has started to slow. Current year sales are expected to decline. Investors need to know what to expect from a top rated company in terms of value, growth and momentum.

The COVID-19 vaccine is Moderna’s most successful product but not the only one. The company continued research into other mRNA vaccines and drugs. The Company’s pipeline products are in various stages of clinical research and success. We expect to hear more about new products from the company in the coming months.

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A more important consideration is that Moderna can transition to deals made through mergers and acquisitions. The collapse of biotech stock valuations after the COVID-19 rally is creating opportunities for mergers and acquisitions. Moderna has $19.3 billion in cash that it could invest in deals.

Moderna Technical Analysis Shows Key Support Blockages

Source – TradingView

Technically, Moderna is trading at a valuation of $130. The valuation is at an important support level. The lowest intra-week price was $119. This analysis considers that the $130 support level is likely to hold. The stock is also likely to establish a consolidation pattern around $130. This analysis predicts that the consolidations will be between a support of $130 and a resistance of $160.

Summary

Moderna will see lower sales of COVID-19 vaccines. New products and potential mergers and acquisitions will fuel the next phase of growth. Moderna will consolidate between $130 and $160 in the meantime.

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