Moderna (MRNA)
By Tue, Jul 21, 2020
Hey there,
This week’s chart comes from our new proprietary Under the Hood Robinhood Trade Scanner.
We’ll share more of that with you soon, but we built this trading tech to pull winning trades directly from Robinhood.
And this week, we love the #2 trade on RH, Moderna (MRNA).
Now, sometimes Robinhood traders just follow a lot of hype and we short their picks, but in this case there’s a lot to love here with MRNA.
The risk to reward ratio is skewed in our favor, the relative strength of biotech and vaccines for COVID can not be ignored, and there is great positive momentum for MRNA.
We’re long in MRNA above (and only above) $80.
Below that, we are out.
But above $80, we’re long with a price target of $120.
That’s 50% upside.
Til next time, good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
