AstraZeneca: the Sell signal loses its edge
AstraZeneca stock flat (-0.3%): Sell signal cools while the ADX heats up
AstraZeneca: the Sell signal loses its edge
Our view last week
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.
This week's summary
AstraZeneca shares close the week almost flat, down 0.3%, boxed between a resistance and a support just a few points apart. It's the third week of a Sell signal losing conviction - strength drops to 2 out of 100, a decline losing steam - yet the weekly ADX is climbing, a sign the trend keeps gaining ground regardless. The stock still trades 8.2% above its 200-week average: our technical analysis reads it as a case still very much open.
IQS Phase
72
in tension
Signal Strength
2
decline losing steam
Sizing
MINIMUM
Ranking
#40 / 47
EU-UK stocks sell signals
Trade P&L %
-0.30%
from signal to date, no stop loss
Rank position
ranks 40th among the 47 sell signals for European-UK stocks in our ranking, with a signal strength of 2 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXV4
Sector regimein positive regime
Performanceweekly -0.61% · monthly -2.43%
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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