I’d like to explain something subtle in SlopeCharts which is important to you folks who use the platform regularly.
I have a perfect example to illustrate this point, which is Moderna (MRNA), a stock which blasted 177% higher yesterday (!!!!!!!!!).
Just look at this chart!
Wait a second. Where’s the huge price bar? It looks like the stock did nothing!
Well, you are correct, and there is a very specific reason for this: years ago, when I was designing the platform, I made the decision that any insane-seeming data be suppressed.
If a price bar seemed absolutely implausible, in order to not wreck the chart, it would merely repeat the prior day’s price bar and volume.
I actually did this exact same trick back in the days of ProphetCharts.
Why? Because financial data is filthy. It always has been, and in spite of today’s technology being literally millions of times better than it was when I first started offering charts to people, the data is still prone to problems. I thus made a trade-off between displaying filthy data (and wrecking charts) and, as this case shows, hiding actual, real data simply because it is so unusual.
You aren’t stuck with this situation, however. With one mouse click, you can change this setting, and you’re welcome to leave it there until the end of time if you like. Just understand that the chart you see will include all the raw price bars, including ones with ugly spikes in them on occasion.
Let’s return to Moderna. Once you let the data show itself in its raw form, the absolutely bonkers price rise is revealed plain as day.
Looking at the entire history of MRNA, you can see how yesterday’s volume (lower graph) completely dwarfs any other high-volume day in the company’s history. Interestingly, you can also observe how this stock is still worth LESS THAN HALF what it was during the Covid mania, in spite of Moderna apparently curing freakin’ cancer!
In any case, I bet some of you were wondering what on Earth was going on, and that’s the reason. Now you know what to do and why it works the way it works.
