Technical Analysis:
- Cup and handle pattern signals bullish strength
- Price breaks above 200 MA, we can use 200 MA as our stop loss
- Price stayed resilient despite the SPY ending deep in the red on 15 Dec 2022
Catalyst:
- Cancer mRNA vaccine completed pivotal trial (www.bbc.com/news/health-63959843). For pharmaceutical stocks, successful trials and FDA approvals act as very strong catalyst that can boost the stock significantly. Conversely, trial failures can crash the stock. The market for mRNA vaccine is expected to grow 130% by 2028 from 2021.
Entry: 208.72
Stop Loss; 156.6
Take Profit Target: 291 (If this goes well, I will take profit on 1/2 position and let the other 1/2 run)
- Cup and handle pattern signals bullish strength
- Price breaks above 200 MA, we can use 200 MA as our stop loss
- Price stayed resilient despite the SPY ending deep in the red on 15 Dec 2022
Catalyst:
- Cancer mRNA vaccine completed pivotal trial (www.bbc.com/news/health-63959843). For pharmaceutical stocks, successful trials and FDA approvals act as very strong catalyst that can boost the stock significantly. Conversely, trial failures can crash the stock. The market for mRNA vaccine is expected to grow 130% by 2028 from 2021.
Entry: 208.72
Stop Loss; 156.6
Take Profit Target: 291 (If this goes well, I will take profit on 1/2 position and let the other 1/2 run)