Moderna stock rose 7% after FDA halt use of JNJ vaccine

The news that the Johnson & Johnson (JNJ.US) vaccine would be paused appeared to be beneficial for Moderna (MRNA.US) which shares gained more than 7% following FDA announcement. The drugmaker has also issued a statement saying that data indicates its COVID-19 vaccine is not associated with cerebral venous sinus thrombosis ("CVST") or other thrombotic events. Moderna announced that assessment was made based on safety data through March 22 of more than 64.5M doses administered worldwide.

Moderna (MRNA.US) stock launched today's session with a bullish price gap and is currently testing the upper limit of the descending channel which coincides with 50 SMA (green line). Source: xStation5

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