• Moderna (MRNA) says a booster dose of its vaccine appears to protect against omicron.
• Moderna (MRNA) shares boosted themselves, up 7% premarket.
• Moderna (MRNA) stock has reversed the post-earnings slide.

Moderna (MRNA) is back to pre-earnings levels as the emergence of the omicron variant and its effect flows through to multiple vaccine makers. Booster rollouts are ongoing globally and the spread of the new variant is causing new restrictions to be put in place in many European countries. Moderna shares have now retraced back to where they were on November 4, just before a disappointing earnings release. Now, this next phase will be crucial. Can traders push Moderna (MRNA) higher or will longer-term investors hold sway and take a second opportunity for more selling.

Moderna (MRNA) stock news

The White House has chimed in on the latest covid news as it struggles to cope with the omicron variant. It released an unusually strong statement on Friday urging continued vaccination.

"Our vaccines work against Omicron, especially for people who get booster shots when they are eligible. If you are vaccinated, you could test positive. But if you do get COVID, your case will likely be asymptomatic or mild. We are intent on not letting Omicron disrupt work and school for the vaccinated. You’ve done the right thing, and we will get through this. For the unvaccinated, you’re looking at a winter of severe illness and death for yourselves, your families, and the hospitals you may soon overwhelm. So, our message to every American is clear: There is action you can take to protect yourself and your family. Wear a mask in public indoor settings. Get vaccinated, get your kids vaccinated, and get a booster shot when you’re eligible". Here is the link for you to verify the statement.

Moderna (MRNA) this morning announced that its authorized booster shot increases omicron neutralizing antibodies approximately 37 fold. The Centre for Disease Control (CDC) had on Friday backed mRNA vaccines over JNJ. Also on Friday Bloomberg reported that researchers from the University of Washington and Humbas Biomed produced results from a study showing limited antibody response against omicron from Sinopharm, Sputnik and JNJ covid vaccines. The study is pre-print and not peer-reviewed.

Moderna (MRNA) stock forecast

The emergence of omicron had already stabilized losses in Moderna (MRNA) stock and resulted in a higher high on November 29 and a lower low on December 10. The news of this booster effectiveness will see more gains for MRNA shares. November 29 resistance at $376 will be the first target. But in reality, this zone from $320 to $350 (highlighted below) is a resistance zone with decent volume. The spike high in late November was just when news of omicron began to surface and investors rushed back to covid vaccine stocks. Equity markets then began to discount its effect and MRNA slid back. But crucially it set a higher low. We expect further gains here. The RSI has plenty of room to run and yet to signal a significant move. The MACD had already crossed bullishly so more is expected. Breaking above $376 will see a test of $420 to $450. Key supports are the 200-day moving average t $268 and the Dec 10 low at $233.

Moderna (MRNA) chart, daily