Moderna (MRNA.US) stock slumped 20% during today's session after the vaccine maker posted disappointing quarterly results and full-year earnings outlook. Moderna earned $7.70 per share on revenue of $5 billion, while analysts expected earnings of $9.05 on revenue of $6.2 billion. More concerning to investors is that the drugmaker cut its full-year sales forecast for its Covid-19 vaccine to between $15 billion and $18 billion from $20 billion. By comparison, Pfizer has said it expects Covid vaccine sales of $36 billion this year and $29 billion in 2022. Moderna expects to deliver between 700 million and 800 million COVID-19 vaccine doses in 2021, down from the previous guidance of 800 million to 1 billion doses due to production and shipment issues.
Moderna (MRNA.US) stock launched today's session with a massive bearish price gap and is currently testing major support at $280.00 which coincides with 61.8% Fibonacci retracement of the last upward wave and lower limit of the descending channel. Should a break lower occur, downward move may accelerate towards next support at $244.30, which is strengthened by 200 SMA (red line). On the other hand, if buyers manage to halt declines, another upward impulse towards resistance at $361.80 may be launched. Source: xStation5
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