Here’s your trade on Moderna ($MRNA). This is an important video. Watch it!! (December 01, 2020)
MRNA ZM MRNA
I want to talk about Moderna ( NASDAQ: MRNA ) here today. But before I get to that I want to talk about something related to this. We started our Black Friday and now Cyber Monday sale on my educational products; it’s 25 percent off across the board on all of these things; you have to be a member or a trial member. The most popular course that I have ever taught is my day trading course the 59-Minute Trader.
If we look at Moderna ( NASDAQ: MRNA ), this is a great example of how you apply a 59-Minute Trader tactic. The Bollinger Bands, right here, these are very, very wide here. You can see where the gray area is, and the stock has been above this two standard deviations for quite a while.
In fact, if we flip this to three standard deviations the stock gapped up well above that. That is a textbook sign to sell; you could short this stock, unlike Tesla ( NASDAQ: TSLA ) there are enough shares that are shortable. So the textbook trade on this, the 59-Minute Trader trade was literally looking at the stock, how it traded in the first minute. It trades down a bit; you immediately have a high here to short the stock.
And then you can wait all day long if you want on this but the whole idea is, you would be shorting this stock and then you would be buying it back if the stock broke out above this top here. So you would be putting a buy stop right here.
Again, you can short the thing down at 170.00 but you would have been better waiting for it to fail here. You go ahead and short the stock, this is a 1-minute chart, and you are never threatened all day long. This was a 20, even a 30-point easy, easy short if you had that tactic if you understood how to make this trade. But easy if you are saying well I thought it was the 59-Minute Trader Course, it is.
So you are shorting right around the high, and you could I just showed you how easy that was. And then you say, okay I want to get out of here even right on the dot at 10:30. All right, you made 8 percent and you say, well, wait a minute I have got a little extra time, this is still moving lower. You wait another 10-minutes or so, and what do you have? Now you are at 11 percent; this is a really good trade and it’s so, so, so clear.
And so I really want you to take advantage of that, really take advantage of that course. You have to be a member or a trial member. Why am I going into this now? Here’s why, because I still think there’s more room to go on this. I think a lot of selling has kind of bled off today but this is a stock, now, that is broken.
We all know what the story is; I’m not going to get into that. I am talking about the chart, not the fundamentals, not the story, that’s boring to me. When I look at this chart this is a stock that got way out over his skis and now we could see this thing come down another 20-25 percent and there would literally be nothing wrong with the stock.
That’s what you have to understand, this stock can come clear down here to the breakout point and be fine at $100.00, 102.00 and then it could turn right around and run back up. I don’t know about that, I doubt it will happen but what I do have a real strong feeling about is that this stock has more room to go on the downside, so all I will say is, you’ve been warned.
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