Sell signal in management: a 6.8% rebound
AstraZeneca rebounds 6.8%: first fatigue signs appear on the sell signal
Our view last week
AstraZeneca stock drops another 3.7% and the decline is back to making lower lows, with the weekly ADX climbing - the trend is gaining conviction. Signal strength hits the max, 100 out of 100: "downtrend making lower lows, pace holding", no sign of fatigue. AstraZeneca now ranks first among our 47 European-UK sell signals, with the pharma sector weak and plenty of room still below.
This week's summary
AstraZeneca rebounds 6.8% with a bullish engulfing daily candle: volume has swung almost entirely back to buyers, and money flow has turned positive after weeks in the red. On the sell signal, under management for six weeks with the short up 2.8%, these are the first signs of fatigue in the decline — the underlying trend is still bearish.
IQS Phase
54
ordinary
Signal Strength
35
decline losing steam
Sizing
REDUCED
Ranking
#18 / 46
EU-UK stocks
Trade P&L %
+2.81%
from signal to date, no stop loss
Rank position
ranks 18th among the 46 sell signals for European-UK stocks in our ranking, with a signal strength of 35 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXV4
Sector regimein strong phase
Performanceweekly +4.34% · monthly +2.68%
AZN belongs to the european sector (reference ETF EXV4). The sector is classified in strong phase according to our weekly reading.
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