$AZN U.K Based in the medical field. Could be a bit gappy. I normally don't trade them because of that but this one doesn't look as bad. Might just let this one go. Not feeling it lol.
$AZN is back over its 10-daily and 10-week moving averages, coming out of a double bottom base. It's ranked highly in its sector (#1) in the IBD50 list and has a composite rating of 98. Whilst not showing any strong signs of institutional accumulation, it's demonstrating good relative strength and technicals. Entry point would be a close with good volume over $67.50
AZN on this Monthly timeframe is extremely bullish
More interestingly though is the inverted H&S patterns that have formed a long this 50MA line
I have counted three in this post, all leading to a bullish result
More of a creative post
A price action above 9780 supports a bullish trend direction. Crossing below this level will negate the trade idea.
Further bullish support above 9970.
Consolidatioin between 9900 and 10120.
Breaking above 10120 might target 10470.
Crossing below 9900 will be the first sign of weakness.
Downside price momentum also fading and might support the trade idea further.
The PEAD projected a Bullish outlook for $AZN after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 88.89%.
Trade idea - Technicial analysis:
Sell $AZN $UK100
Chart: Heikin Ashi 1D
The bullrun through March looks to have run out of steam and started to show weakness.
Chart: Candlestick 1D
• MACD histogram crossed over and now posting negative trend.
• RSI falling from overbrought levels
Target:
TP1 67.4
TP2 64.8
Or RSI 30
A very nice ascending triangle pattern forming, indicating continuation long. Moving averages trending bullish after 2 years of consolidation. RSI attempting to push through resistance.
Ideally look to add on weakness however if breakout occurs we should be seeing some nice upside.
DYOR NFA.
Take care everybody.
The PEAD projected a Neutral outlook for $AZN after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 75%.
Immediate targets 55, 53 and 50. Invalidation at 65. Invalidation at 70.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore...
Failed head and shoulders have offered great opportunities in recent times.
Idea Buy AstraZeneca Plc on a clearing of the right shoulder.
Now: 86.53
Long +87.30 (right shoulder high zone)
Stop: 83.79
Target: 94.50
For more real-time insights and trade ideas, get in touch today.
The PEAD projected a Neutral outlook for $AZN after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 80%.
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Q: What has the highest probability of occurring?
After being one of the strongest performers in 2020 during the initial UK lockdown the stock lost over 30% of its value.
In 2021 it has staged a modest recovery but is still over 15% below its all time high requiring an over 20% rally.
There is well tested support at 8100p and resistance at 8775p.
There is 2...
