Moderna stock moves closer to key technical benchmark

news7f02/10/2023

1 1 minute read

Moderna stock moves closer to key technical benchmark

On Friday, modern (mRNA) stock has received an upgrade to Relative Strength Rating (RS)from 69 to 72 .

When you try to find best stocks to buy and watchBe sure to pay attention to relative price strength.

This unique rating measures market leadership using a score from 1 (worst) to 99 (best) that shows a stock’s price performance over the past 52 weeks relative to all other stocks. other votes in our database.

Decades of market research show that the biggest winners in the market tend to have RS Ratings above 80 when they make their biggest price moves. See if Moderna stock can continue to show new price strength and break through that threshold.

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Should Moderna Stock Be Buy?

Moderna stock has returned to trading below its 50-day moving average in recent weeks. While now isn’t the ideal time to jump in, let’s see if biotech stocks can provide and clear a suitable buy point.

Read “Looking for the next big stock market winners? Get started with these 3 steps” for more tips.

The biotech company reported negative growth for both revenue and earnings last quarter. The company is expected to report its next quarterly figures on or around February 23.

Moderna stock ranks 196th among peers in the Health-Biology/Biotech industry group. ADR Genmab (GMAB) And BioMarin Pharmaceuticals (BMRN) are also among the highest valued stocks. For more industry news, check out “Biotech and pharmaceutical industry and stock news.”