AstraZeneca PLC Technical Analysis – AstraZeneca PLC Trading: 2021-12-23

 AstraZeneca PLC Technical Analysis – AstraZeneca PLC Trading: 2021-12-23

AstraZeneca PLC Technical Analysis.

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AstraZeneca PLC Technical Analysis Summary

Buy Stop: Above 8624

Stop Loss: Below 8105

IndicatorSignal
RSINeutral
MACDBuy
MA(200)Buy
Donchian ChannelBuy
Parabolic SARBuy
FractalsBuy

 

AstraZeneca PLC Chart Analysis

AstraZeneca PLC Technical Analysis

The technical analysis of the AstraZeneca stock price chart on daily timeframe shows #L-AZN, Daily has breached above Fibonacci 38.2 level and is rebounding above the 200-day moving average MA(200) which is rising itself. We believe the bearish momentum will continue after the price breaches below the lower boundary of Donchian channel at 8624. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above the upper boundary of Donchian channel at 8105. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (8105) without reaching the order (8624), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Fundamental Analysis of Stocks – AstraZeneca PLC

AstraZeneca stock edged up after the company announced it is working on vaccine for Omicron variant. Will the AstraZeneca stock price continue rebounding?

AstraZeneca is a British-Swedish multinational pharmaceutical company. Its global competitors include companies like GlaxoSmithKline, Johnson & Johnson, Roche Holding. AstraZeneca said on Tuesday it is working with Oxford University to produce a vaccine for the Omicron coronavirus variant. The stock posted a moderate daily gain of 1.7% on the news. Earlier vaccine makers Pfizer, BioNTech and Moderna had said they were working on Omicron- specific COVID-19 vaccines. A couple of days ago AstraZeneca announced that the US Food and Drug Administration (FDA) has granted approval to the treatment of severe asthma -Tezspire, which the company is jointly developing with Amgen. AstraZeneca stock is trading at P/E ratio (Trailing Twelve Months) of 105.15 currently, the company earned £32.82B revenue (ttm) and Return on Equity (ttm) of 17.5%. The AZN stock return exceeded the UK market return which equaled 12% over the past year. AstraZeneca earnings are forecast to grow at over 34% per year in the next three years, according to analyst estimates. Expectations of rising profits are bullish for company’s stock price.

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