Most traders wrote Moderna (MRNA) off two years ago.

Covid was over, the windfall was gone, time to move on. Most people have not looked back.

The chart has a different opinion.

MRNA is one of the strongest performing stocks in the S&P 500 this year. It’s up 85% year to date and more than 145% from its low last summer.

That kind of move does not happen in a dead company. Something has changed, and the market is pricing it in.

Moderna is no longer the Covid story.

It now has three approved products… a flu vaccine under regulatory review in multiple countries… and a personalized cancer vaccine in eight clinical trials with Merck.

It is now a platform, not a one-product story.

But none of that is why it is on my watchlist.

It is on my watchlist because of what the chart is showing me right now.

The 8-day exponential moving average (EMA) is above the 20-day EMA, which is above the 200-day simple moving average (SMA).

When those three are stacked in that order, it tells me the stock has momentum and structure. MRNA has held that stack through the recent market volatility.

The relative strength index (RSI), a momentum indicator that ranges from 0 to 100, is at 59. Not extended, plenty of room.

Your Action Plan

The stock is consolidating just below its 52-week high of $59.55, forming what appears to be a bull flag. Trend, pattern, and squeeze all check out.

One thing to know going in: Moderna reports earnings on May 1 before the open.

When a company crushes earnings, the stock does not just jump once and settle. It keeps drifting higher for days. Sometimes weeks.

These are among my favorite trades to take. Not only are the gains massive, but they also come fast.

And with several of the big names reporting this week, you owe it to yourself to watch this video today.