The range breaks
AstraZeneca sheds 5.8%: the decline returns to making lower lows
The range breaks
Our view last week
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.
This week's summary
AstraZeneca drops 5.8% this week and breaks out of the sideways range that had held for three weeks: the decline is back to making lower lows, with buyers accounting for just 17% of daily volume and cash flows turning to distribution. The weekly ADX is climbing, a sign the trend is gaining conviction. The stock still trades above its 200-week average and remains far from its historical highs: for our model, opening a position here stays high risk.
IQS Phase
69
in tension
Signal Strength
61
decline starting to make lower lows
Sizing
STANDARD
Ranking
#2 / 42
EU-UK stocks sell signals
Trade P&L %
+5.54%
from signal to date, no stop loss
Rank position
ranks 2nd among the 42 sell signals for European-UK stocks in our ranking, with a signal strength of 61 out of 100.
Sector context
SectorEuropean
Benchmark ETFEXV4
Sector regimein positive regime
Performanceweekly +0.89% · monthly -2.53%
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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