AstraZeneca shares in tentative rebound

AstraZeneca, the pharmaceutical group, its long-acting antibody (LAAB) combination, AZD7442, will advance into two phase 3 clinical trials in more than 6,000 participants at sites in and outside the U.S.

Trader 3

AstraZeneca, the pharmaceutical group, its long-acting antibody (LAAB) combination, AZD7442, will advance into two phase 3 clinical trials in more than 6,000 participants at sites in and outside the U.S. that are due to begin in the next weeks. It is also planning additional trials to evaluate AZD7442 in approximately 4,000 patients for the treatment of COVID-19. The company added that it has received support of around 486 million dollars from the U.S. government for the development and supply of AZD7442.

From a chartist point of view, the stock price has landed on its lower Bollinger band and is posting a rebound. The daily Relative Strength Index remains capped by its declining trend line. The configuration is mixed. A limited rise towards the key horizontal resistance at 8848p is likely. Only a push above this resistance threshold would reinstate a bullish bias towards 9350p. Key support at 7930p.

Source: GAIN Capital, TradingView


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