Moderna ($MRNA) Trade Recap 2/14
Over the weekend there was a bunch of news about the Moderna CEO selling shares and then making his twitter private. Along with the Omicron variant news waning the vaccine stocks and overall market have been taking a beating.
I was originally watching Tesla off of the open but it was pretty choppy and couldn’t get anything going. I was able to catch the MRNA downside 15 minutes after the open. When a stock is going straight down like this, it can be easy to just jump in and hope it continues to go down. But I wanted to wait for a better entry price and waited for a slight pullback to the 9EMA on the 1 minute time frame. My stop loss was above high of day, and my price target was $138, which was the low from January 24th.
Watching Bookmap, there was a large wall of buyers waiting around there and as price came into this area, it began to bounce with large relative volume, this is when I took profits. Overall I think that my execution on this trade was great from planning to execution.