AstraZeneca stock price bias bullish after cancer drug news
Technical Analysis Summary AstraZeneca PLC: Buy
| Indicator | Value | Signal |
| RSI | Neutral | |
| MACD | Buy | |
| Donchian Channel | Buy | |
| MA(200) | Buy | |
| Fractals | Neutral | |
| Parabolic SAR | Buy | |
| Fibonacci | Buy |
Chart Analysis
The technical analysis of the AstraZeneca stock price chart on daily timeframe shows #L-AZN, Daily has breached above Fibonacci 23.6 level and is rebounding above the 200-day moving average MA(200) which is rising itself. We believe the bullish momentum will continue after the price breaches above the upper boundary of Donchian channel at 11035. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below the lower boundary of Donchian channel at 10425. After placing the order, the stop loss is to be moved every day to the next fractal low, 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 (10425) without reaching the order (11035), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of -
AstraZeneca stock edged up after the company announced the breast cancer drug Enhertu trail results were positive. Will the AstraZeneca stock price continue rebounding?
AstraZeneca announced a late-stage trial had confirmed the benefit of breast cancer drug Enhertu. In a 600-patient trial Enhertu met the main goal of statistically significant and clinically meaningful improvement in progression-free survival. It is a measure of how long a person can live without their disease worsening. The drug also improved overall survival, a key secondary goal. Earlier AstraZeneca had secured US approval specifically targeting patients with breast cancer,, paving the way for billions in sales.