By Barrie Einarson | Trade Ideas

Hey everyone, Barrie Einarson from Trade Ideas with today’s edition of What Makes This Trade Great? To Subscribe to Trade Ideas: https://go.trade-ideas.com/SHQ
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Today we’re looking at Moderna (MRNA), and if you’ve been joining me in the trading room over the last month or so, you know I’ve been talking about this stock almost every single day.

I’ve even jokingly called Moderna a penny stock because of the way it trades!

Now, obviously, Moderna isn’t a penny stock. We’re talking about a company with approximately 365 million shares in the float. But the price action lately has been absolutely wild.

Ever since that big news came out a month or two ago, Moderna has been giving us some incredible swings almost every day. And for active traders, that kind of volatility can create some interesting opportunities.

Today was another great example.

I’ve been trading Moderna quite a bit, although I actually use MRNY for my trades rather than MRNA directly.

At the beginning of today’s session, Moderna looked pretty weak. If you were just watching the early price action, you might have thought there wasn’t much hope for a move higher.

But that’s why you have to be patient and watch your levels.

I waited for the price action to improve and made my entry around the VWAP area, after seeing the move strengthen above the levels I was watching.

From there, the stock started pushing higher, and I was able to ride that momentum.

I took some profits along the way, held onto a portion of the position, and eventually sold the remainder when the price reached the Bollinger Band.

That’s exactly the kind of trade I like to see.

Now, I wasn’t trading a huge position, but that’s not the point. When you’re dealing with a stock moving this aggressively, you have to manage your risk and take advantage of the opportunities as they develop.

What makes Moderna so interesting right now is that it continues to provide these big intraday swings, even with such a large float.

And that’s why I keep coming back to it.

The takeaway? Don’t assume a stock is finished just because it starts the day looking weak. Sometimes waiting for a reversal, watching VWAP, and managing your exits around technical levels can make all the difference.

Moderna has been an amazing stock to watch and trade lately, and I’ll certainly be keeping it on my radar.