Your stocks to watch for the week ahead include coronavirus vaccine stocks like Moderna (MRNA), Maravai LifeSciences (MRVI) and West Pharmaceutical Services (WST). They also include medical stocks like Shockwave Medical (SWAV) and 10x Genomics (TXG).
The moves from those stocks — either setups or buying opportunities — come as coronavirus vaccinations expand. But U.S. cases are still rising, and doses of the Johnson & Johnson (JNJ) vaccine remain on hold. The government is looking at a rare type of blood clot in six people who received that vaccine.
Moderna, among the best-known coronavirus vaccine stocks, leapt 6.8% to 170.81 in Friday’s stock market, capping a 21% surge. MRNA stock is moving up the right side of a cup base with a 189.36 buy point. Based on IBD’ s research, investors also could have bought the stock earlier in the week after it broke above its 50-day line.
Ideally, MRNA stock would form a handle, creating a lower entry point and shaking out weak holders. But it hasn’t shown any sign of that so far.
Moderna is one of the main coronavirus vaccine makers. The temporary halt in the Johnson & Johnson (JNJ) vaccine is good news for MRNA stock.
But questions have surfaced about what’s next for the company.
But growth is exploding, with sales up 3,048% to $570.8 million in the latest quarter. Strong revenue growth is seen in 2021, with Moderna expected to generate massive profits after years of losses.
Shockwave Medical Stock
Shockwave Medical, down 0.6% to 139.09 on Friday, tried to break out from a consolidation with a 143.88 entry on Wednesday. The stock could still form a handle within that formation. Investors could also buy the stock above Wednesday’s high.
Shockwave makes technology intended to increase blood flow by using sound waves to fracture and weaken layers of calcification in arteries, a company video explained.
“People are living longer,” CEO Doug Godshall said in that video. “(That) also means more and more patients have really dense, challenging calcium.”
Shockwave Medical has a 71 Composite Rating and a 36 EPS Rating.
Maravai stock, among the lesser known coronavirus vaccine stocks, was up 0.1% to 36.68 on Friday, but rallied 5.8% for the week. Investors could have bought MRVI stock when it retook its 50-day line and broke a downtrend this past week.
Shares are still within buying range of that line.
Maravai stock has an official buy point of 40.34. But it’s working on a potential handle that would lower the entry point to 38.69.
Maravai LifeSciences, which went public in November, makes a key ingredient for the Pfizer (PFE) and BioNTech (BNTX) coronavirus vaccine. The JNJ vaccine delay is likely good news for the Pfizer vaccine and key suppliers such as Maravai.
MRVI stock has an 88 Composite Rating. Its EPS Rating is 73.
10x Genomics Stock
10x Genomics stock dipped 1% to 194.10 on Friday, edging down 0.3%. The stock tried to break out of a 201.80 entry of a consolidation on Wednesday. But it reversed lower. Investors, IBD’s research shows, could buy it at 201.80 — or 10 cents above Wednesday’s high of 203.20. TXG stock could form a high handle after Tuesday on a daily chart, giving more weight to the 203.30 entry. Technically, TXG already has a high handle on a weekly chart.
10x Genomics makes equipment and software intended to help researchers analyze biological systems in a more in-depth way.
TXG stock has a 50 Composite Rating and a weak 4 EPS Rating.
Despite the prospect of continued big losses, many top mutual funds are investors in TXG stock.
West Pharmaceutical Stock
West Pharmaceutical Services, the last of the three coronavirus vaccine stocks mentioned here, rose 0.9% to 313.83 on Friday, just moving pasting a 312.22 buy point. WST stock rallied 5.9% to 314.10 on a weekly basis, the sixth straight weekly gain.
West Pharmaceutical makes vials and syringes for drugmakers, including those developing coronavirus treatments.
West Pharma stock has an 87 Composite Rating and a 96 EPS Rating.
WST stock is on the IBD Long-Term Leaders List.
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