AstraZeneca: the decline keeps losing steam
AstraZeneca rises 0.6% as its Sell signal keeps losing steam
AstraZeneca: the decline keeps losing steam
Our view last week
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.
This week's summary
AstraZeneca shares close the week almost flat, up 0.6%, with an indecisive last bar that boxes the price between the 12778 area and the 12669 area. It's the mark of a Sell signal running low on conviction: strength drops further, to 15 out of 100 — a decline losing steam. The stock still trades 8.6% above its 200-week average, though, a tension that keeps the case open, and the confirmation week is still running its course.
IQS Phase
67
in tension
Signal Strength
15
decline losing steam
Sizing
MINIMUM
Ranking
#30 / 56
EU-UK stocks sell signals
Trade P&L %
-0.60%
from signal to today
Rank position
ranks 30th among the 56 sell signals for European-UK stocks in our ranking, with a signal strength of 15 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXV4
Sector regimein positive regime
Performanceweekly +0.19% · monthly -0.21%
AZN belongs to the european sector (reference ETF EXV4). The sector is classified in positive regime according to our weekly reading.
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