Moderna rallies 9% on vaccine trials

Moderna (MRNA.US) is the best performing company in S&P 500 index today, gaining around 9% at press time. Gains were triggered by the announcement on the government trial website that the company is starting a mid-stage study of the experimental cancer vaccine in patients with cutaneous squamous carcinoma. Trial to test the vaccine will be in collaboration with Merck & Co (MRK.US). Results of a study on another Moderna-Merck vaccine showed in December 2023 reduce risk of severe skin cancer recurrence for three years.

Taking a look at Moderna (MRNA.US) chart at D1 interval, we can see that the stock surged today and climbed to the highest level since January 8, 2024. Share price is approaching a resistance zone in the $116 area, marked with previous local highs. A break above it would open the way towards the next major resistance zone to watch, which can be found in the $128.50 area.

Source: xStation5

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