• Swing Trade Idea (MRNA) – October 19, 2023

    Our bearish trade for Thursday, October 19th is Moderna Inc (MRNA). MRNA is part of the Health Care Sector, which has performed at -1/30% over the last month, with MRNA underperforming at -19.42% over the same period.

    MRNA had a sharp downturn once it broke below key support and it currently has a Relative Strength of 1 (out of 10). It is also trading significantly more bearish than its sector, which underscores our bearish thesis for this trade. We therefore believe that MRNA will not trade higher over the duration of this trade.

    As a close, if MRNA were to trade above $90 for multiple days, this would invalidate our analysis and will consider cutting losses on the trade. We also will consider cutting losses on this options trade if the value of the vertical spread moves above $8.40.

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