AstraZeneca: fresh sell signal
AstraZeneca slips 1.9% but bounces 20% off a double bottom
AstraZeneca: fresh sell signal
Our view last week
Last week AstraZeneca opened a fresh buy signal with strong credentials; this week's confirmation closed with an 11.2% plunge that flips the picture. Sellers dominated the last session in extreme fashion and price slid inside the weekly cloud: the first week's confirmation calls for exiting the position. Signal strength drops to 23 out of 100, and AstraZeneca stock sits last among the 60 open European buy signals.
This week's summary
AstraZeneca's sell signal has just triggered, after last week's 11.2% plunge flipped the picture from buy to sell. This week the stock gave back just 1.9%, with a double bottom in the 12240 area and a 20% rebound: signal strength drops to 23 out of 100, a decline losing steam. The stock ranks 23rd among the 53 European sell signals, and opening a fresh short here is high-risk per our model.
IQS Phase
61
ordinary
Signal Strength
23
decline losing steam
Sizing
MINIMUM
Ranking
#23 / 53
New eu-uk stocks
Trade P&L %
+0.00%
from signal to today
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