AZN (Astrazeneca)

[FTSE Beater]

Hi All

This one also caught my attention

On the 4th attempt the 2700 level went
The really strange thing is that GSK (GlaxoSmithKline) which follows AZN very closely has yet to break in the same way.

It will be interesting to see what the Pharmaceutical sector does tomorrow, as these 2 are the main constitutes

 

[bonsai]

Glaxo FT relative has been weakening for some time.

 

[barjon]

yes, gsk been struggling to keep up

also better watch the apparent azn breakout for a moment or
two. At 2712 it's sitting virtually smack on fib50% resistance of
the 3/02 to 9/02 down move.

 

[bonsai]

agree
but watch even closer for a false break up !

you dont want to be last man in.

so the stop will be crystal clear.

 

[bottomdollar]

Hi guys
I've actually got a short position on this right now..
I can see a case for a short and long but I hope its the latter... the chart is starting to show some weakness now but there was a hell of a lof of buy momentum which brought it up to this level and also so suddenly.. so also, I'm expecting a pullback at the very least.
However, there will be buyers in seeing it actually closed above 2700 on the daily chart which would also prop up the price...
What do you guys think? Anyone looking at Level 2 and seeing anything?

 

[bonsai]

nothing to add.