Astrazeneca thoughts (LSE:AZN)

#DAX #SP500 Unusually, we must admit to an interest with Astrazeneca (AZN). In the middle of January, a nice text from Nicola Sturgeon advised the jag was coming mid-Feb. Last week, the local GP called, telling me to attend tomorrow morning at 9.10am. As a result, if the vaccine doesn’t work, an axe will be ground. And if it does work, there will always be the suspicion I wouldn’t have caught Covid (again) anyway!

While being guilty of returning to this subject matter, as someone with a trashed immune system, the concept of being out and about while feeling “safer” will be quite exciting but with only one drawback. Apparently there’s a chance our grandchildren will visit again…

 

Astrazeneca share price is actually on the edge of trouble, closing 10th Feb at 7,247p. This, we feel, dangerous thanks to prior closing prices at the end of 2020 at 7,223p, especially as the difference between the two numbers is negligible. Despite the final nail remaining unhammered, we’re inclined to warn movement next below 7,223p risks reversal toward an initial 6,776 with secondary, if (when) broken at a bottom of 6,269 and hopefully a proper bounce.

The historic chart highlights something important. While the flourish above 10 quid last year illustrated a FTSE 100 component could perform with similar breathless abandon to an AIM share, the reality shows AZN has been steady, reliable, climbs since the low of the 2009 Financial Crisis. In spite of their Covid-19 vaccine, share price growth has proven strong over the years and we’re curious whether any reversal shall indeed “just” bonk the Red trend, resuming recovery thereafter.

To convince us the immediate relaxation cycle is an aberration, the share price needs strong recovery above 8,750p as this should prove capable of a fairly dull 9,140 with our longer term secondary, if exceeded, at 10,450 and a new all time high.

 

We suspect this shall prove worth watching in case 6,269p makes an appearance.

Hey, chart goes here

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:09:31PM BRENT 60.97
10:11:18PM GOLD 1843.72
10:14:19PM FTSE 6520.13 ‘cess
10:21:39PM FRANCE 5660.7
10:24:34PM GERMANY 13933.58 13894 13846 13731 14035 14077 14139.5 14244 13956 Success
10:26:24PM US500 3912.42 3883 3869.5 3848 3920 3934 3940 3959 3912 Success
10:28:49PM DOW 31442 Success
10:30:25PM NASDAQ 13669
10:33:16PM JAPAN 29279 ‘cess
10/02/2021 FTSE Closed at 6524 points. Change of -0.11%. Total value traded through LSE was: £ 6,866,229,755 a change of 17.93%
9/02/2021 FTSE Closed at 6531 points. Change of 0.12%. Total value traded through LSE was: £ 5,822,084,195 a change of 11.88%
8/02/2021 FTSE Closed at 6523 points. Change of 0.43%. Total value traded through LSE was: £ 5,203,801,333 a change of -25.46%
5/02/2021 FTSE Closed at 6495 points. Change of -0.12%. Total value traded through LSE was: £ 6,981,544,293 a change of 30.51%
4/02/2021 FTSE Closed at 6503 points. Change of -0.06%. Total value traded through LSE was: £ 5,349,556,442 a change of 1.88%
3/02/2021 FTSE Closed at 6507 points. Change of -0.14%. Total value traded through LSE was: £ 5,250,745,013 a change of -4.46%
2/02/2021 FTSE Closed at 6516 points. Change of 0.77%. Total value traded through LSE was: £ 5,495,808,707 a change of -1.14%

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