BZ Chart Of The Day: Is It Time To Sell Moderna?

Shares of Moderna, Inc. MRNA may be in trouble. The stock has run into resistance around the $350 level. The last time this happened, a sell-off followed.

Resistance is a large group of sellers who are offering their shares at or close to the same price. In this case, it’s $350.

At resistance levels, there is more supply than there is demand for a stock. This is why rallies end when they reach them.

Sometimes, after a stock hits a resistance level the price goes down after. This is what happened to Moderna when the stock reached $350 earlier this month. Now it may happen again soon.

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