Moderna stock surges after upbeat quarterly results

Moderna (MRNA.US) stock rose over 10% during today's session after the vaccine maker reported solid quarterly results. 

• The biotech company earned an adjusted $11.29 per share on $7.2 billion of revenue, easily beating market expectations of  $9.90 in earnings per share on $6.78 billion of revenue. 
• The company’s CEO told CNBC that he thought people would need another Covid booster shot in the fall.
• Modeerna expects at least $19 billion ofcoronavirus vaccine - Spikevax sales in 2022, with additional signed options of approximately $3 billion.
• Company unveiled a new $3 billion share repurchase plan.

Moderna (MRNA.US) stock fell sharply in recent months, however it seems that buyers managed to halt declines around $149.60 level which coincides with 78.6% Fibonacci retracement of the upward wave launched at the beginning of 2020 and 50 SMA (green line). As long as the price sits above this level, upward move may be resumed. On the other hand, if sellers manage to regain control, then another downward impulse towards support at $56.55 may be launched. Source: xStation5