I think MRNA has entered a distribution range, as the ST (second test) seemed to be pretty weak, and the price is now showing weakness below the trading range. We are going to wait for further developments in price action and eventually take a trade on the final LPSY. For those of you who like trading ranges, this might be a juicy opportunity. Watch for the creation of an UT (upthrust) and an UTAD (upthrust after distribution) before you take your trade.
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Fell sharply in 14 d, losing 116 points and broke 50 SMA, and the 100 EMA. it might hit the 295 if does not hold the strong support at 320. I plan to short it big as I expect it to go down to at least 300 level. I already bought puts expiring on 10/8. do you think i should i waited? Thanks man.
TrickleDownFX
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@neatfreak301, I would wait until UT and UTAD. Google Wyckoff distribution schematics on and verify the events for reference my man :)