 Hey everyone this is Dan with another episode of my Moderna and BioNTech video. I would talk about the charts and the new price targets in light of what happened in the last few days. Let's get started. First of all I like to outline a very important video that I posted on July 8th in which I did a lot of fundamental analysis. In that video I went into a lot of details about comparing the development of COVID cases in the various countries especially us related to the Delta variant and I compared to different vaccines. Also I showed my new evaluation. If you're interested please check out that video. Let's review the price targets I said in my last video which was posted on July 17th. In that video I set the Moderna target to be 300 BioNTech at 270 to be achieved by the end of September 2021. And before that day Moderna closed at 286 BioNTech closed at 231. Quite a distance for my target. And then also July 26th Moderna already went up to 335 exceeding my target and BioNTech went up to 286 also exceeding my target. So directionally I was definitely right except I was a little bit on a conservative side. Therefore on July 26th I revised my price targets to Moderna 360 BioNTech 300 to be achieved by the end of October 2021. And as of today Moderna closed at 345 definitely move a lot closer to my target and BioNTech closed at 312 exceeding my target. Actually on an intraday basis Moderna went as high as about 361 362. In light of all these am I going to set new price targets? I'll talk about it in the next few minutes. Stay tuned. On July 27th CNBC published an article saying that people are mixing and matching COVID vaccines. For example the German Chancellor Angela Merkel she received the AstraZeneca shots in April but then in June she received the Moderna shot as a booster shot. And Italy is allowing the older people to receive a different vaccine other than the AstraZeneca vaccine that they received earlier so that they could build up more of their immunity. And of course when they talk about other vaccines they're talking about Pfizer BioNTech or Moderna vaccine. And then they talk about the different people who received the J&J vaccine previously which is the one dose vaccine are now receiving the Pfizer vaccine as a booster shot. So we'll be hearing people getting the Moderna vaccine or the Pfizer BioNTech vaccine as a second shot of booster shot and definitely that shows that those two vaccines are definitely superior to AstraZeneca or Johnson & Johnson as I predicted in my last couple of videos. And there was this report that I showed in my previous video that China is planning to use the BioNTech vaccine as a booster shot for its population because China has a population of 1.4 billion people that will be potentially a lot of doses to be produced by the joint venture between BioNTech and Fosin Pharmaceutical in China. And that's good for the investors of BioNTech. On July 23rd it was announced that the United States bought an additional 200 million doses from Pfizer BioNTech to be used for pediatric vaccination and also potentially as booster shots as they developed the booster shots for new variants. And then earlier it was announced that Moderna would be included into S&P 500 effective July 21st which already happened. And of course that caused a major jump in stock price for Moderna. If you like what you've seen so far I'd like to suggest that you click the like subscribe and notification button so that you'll be notified when I publish another video. It will also encourage me to make more videos like this in the future. Thank you very much let's continue. In my July 8th video I updated my valuation of Moderna and arrived at the following calculated prices for Moderna in 2021, 2022 and 2023. And I took the low number among this range to be my price estimate. So today because of the positive developments recently I feel comfortable to set a new target at $370 to be achieved by the end of October 2021. And similarly for BioNTech I like to set the new target of $330 a share to be achieved by the end of October 2021. Here's the reason why I did not set my new targets to be much higher than the current prices. I will talk about that as we get to the charts. At this point I'd like to remind you that I'm not a financial advisor. I share my stock trading strategies for educational purpose only. If you want to buy or sell stocks you should make your own decisions and you should definitely consult with your financial advisors before you do so. Let's continue. This is the daily chart for Moderna. As we can see the price was trending upward along this nice channel since March of this year and then starting in the middle of this month month of July it took a very positive jump upward and broke out of that channel. In the meanwhile we see the RSI indicator to be showing an overbought situation starting about three four days ago. For DMI we see a positive buy signal and for MACD I also see a positive buy signal. I actually sold some of my shares to Lock In My Profit a couple days ago mainly because of the RSI indicator. With the RSI being higher than 75 actually it was at about $80.83 at one point. What is that going to do to the price? Let's look at what happened in the last year. We'll zoom out again. This is a daily chart except it extended all the way back to November of last year. We can see that whenever RSI got about 75 at these points see what happened to the price here. There's a pullback, not a pullback, not a pullback. Each of the pullback was more than 10 to 15 percent and that's why I think we're going to see another pullback in the next few days. Let's look at the hourly chart from Moderna. Four days ago it hit the intraday max of 362 and since then it went down by about 13 percent just within a day. If you look at this line here it's definitely going to be a very strong resistance going forward especially in the next few days. If you look at the RSI indicator we hit these high points and that's when the price started to drop down before it recovered. For example when it hit this point greater than 75 almost at 80 then we saw the sell signal pretty soon on the DMI and confirm with the sell signal MACD ensuring that the price started to drop and then when RSI hit this bottom here at 30 then the price started to recover confirmed by a positive buy signal from DMI and positive buy signal of MACD and guess what now RSI hit this high point again as of this morning and looks like the cycle is being repeated again. We've got a sell signal here from DMI right about a time when market opened. We see this big red candle here and then we see the sell signal for MACD also and if you are active swing trader you might be able to buy some shares in the next few trading hours and probably see an upward potential of maybe four to five percent but when the price hit this resistance point of 362 most likely it's going to pull back. For me I'm just going to wait over longer until the daily RSI number gets to be reasonably low before I buy again. Let's look at the support and resistance points because we've gone up so much in the last few days I have to go all the way back to November to find a minimum point to draw my Fibonacci extension so I picked this point as my minimum point and this point in the beginning of the month as a maximum point and I draw these Fibonacci extension lines. I like this diagram because it confirms some of the historical price levels. Let's zoom in to this area here we are. For support I see the next level down at 333 which is this level at Fibonacci 61 percent next level down 314 which is Fibonacci 50 percent and next level down 294 Fibonacci 38 percent and next level down actually here at 284 which is the middle of the Bollinger Band 20 days simple moving average. For resistance the next level up will be at 363 that's Fibonacci 78 percent and the next level up will be 380 which is the upper Bollinger Band here and the next level up 397 Fibonacci 100 percent. Let's look at BioNTech this is the daily chart we can see that the price was trending along this triangular pattern between June and the beginning of July and then it broke above that and started to follow this upward sloping channel which is a very bullet channel but then as of today it hit that very big red candle here that's an ominous sign. In the meanwhile we see RSI showing an overbought signal that means the price is probably going to pull back in the next couple of days we have a DMI bullish buy signal from a couple weeks ago and the MACD buy signal from a couple weeks ago but because of this big red candle and because of the RSI overbought signal I think there's a pullback that's happening. Let's see what happened to the price when the RSI signal hit this high level of above 80 that's where we are today see the last time when that happened price dropped and three big red candles in a row. Now we see this first big red candle maybe there will be more to come then here back in November it hit the value about 7778 also we saw a pullback again it happened here this is an hourly chart for BioNTech as we can see it went up yesterday and today right before market opened it hit an intraday max of 328.7 between this point and that point there's a drop of 6 percent RSI showed an overbought signal overnight last night when that happened last time when RSI was that high the price went sideways for a few days until RSI hit the low point about 40 before the price started to recover so I think the same pattern might be repeating again and sure enough we already have a cell signal from DMI on the hourly chart and a cell signal from MACD that's why I'll definitely be waiting for the next few trading hours before I decide to buy more shares I will wait for the RSI to be at a low point on the hourly chart as well as the daily chart before I buy more shares of BioNTech and similarly for Moderna let's look at the support and resistance levels for this I drew the Fibonacci extension diagram I used this point back in the beginning of April as my minimum point and this point here in the beginning of June as a maximum point and these lines nicely confirm some of the price points in the last few days for support I see the next level supported 312 which is where the price closed today and it's actually a support level as well as a resistance level which is the Fibonacci 50% and the next level down is 294 this line Fibonacci 38% and the next level down 273 here Fibonacci 23% and next level down 239 which was this previous max of Fibonacci 0% for resistance I see the next level up which is the current level 312 a very critical point it is the Fibonacci 50% and also the upper bowl in Japan that's why it's such a strong resistance or support level and hopefully the price in the next few days will get above that level but in the meanwhile in the next few trading hours it will most likely pull back a little more the next level up will be 328 here actually on an intraday basis today we will re-reach that point so we have to retest that point and then next level up will be 353 here Fibonacci 78% and then next level up would be 384 Fibonacci 100% what are my strategies as I mentioned in my previous videos I'm holding some Moderna and BioNTech shares for the long term they are seeing some pretty good paper game for now and I'm holding out of them and I'm swing trading the rest of the shares about 50-50 50% holding for the long term and 50% for swing trading and I will sell when the price pulls back at a major resistance point or when I see adverse news that develop and I will buy when a price bounces back from a major support point or when positive news develops specifically for Moderna and BioNTech for the next few days I will wait for the daily RSI to get below 55 before I buy a lot more shares as of now I see an overbought situation for both stocks and as I buy or sell shares I will update my subscribers by way of my Twitter messages this brings me to my Twitter account and I like to suggest that you also subscribe to my Twitter account in addition to subscribing to my YouTube channel for example on July 26 I tweeted that my trailing stop limit sell order for BioNTech was triggered at 290.81 locking about 30% profit and likewise my trailing stop limit order for Moderna also was triggered realizing a 25% gain for me the reason why I said these trailing stop limit order was because I saw the RSI approaching a very high value indicating an overbought situation that's why I set the limit so that I can lock in my profit if you like what you've seen so far I like to suggest that you click the like subscribe and notification button and as usual I will very much welcome your comments questions and suggestions let me recap I expect Moderna to reach 360 a share and BioNTech to reach $330 a share by the end of October 2021 this concludes my video for now thank you very much for watching Autoway to here I wish you the best of luck with your financial investments