Shares of AstraZeneca Hesitating?
Published on Monday, 11 February 2013 04:06 Written by TradersHuddle Wire
New York, February 11th (TradersHuddle.com) - Shares of AstraZeneca PLC (NYSE:AZN) closed the trading day lower by $0.04 or -0.08% from its previous close. AstraZeneca's price action formed what is considered to be a doji close, where the open and close prices are very close to each other, mainly signaling an indecision between buyers and sellers.
AstraZeneca PLC (NYSE:AZN), through its subsidiaries, researches, manufactures and sells pharmaceutical and medical products. The Group focuses its operations on seven therapeutic areas: Gastrointestinal, Oncology, Cardiovascular, Respiratory, Central Nervous System, Pain Control, Anaesthesia and Infection.
AstraZeneca's trading range is defined by a trough, which marked calculated support at $47.33 and by a peak that set the resistance point at $49.27. These levels are closely watched by traders managing their positions.
Traders wanting to establish a position in AstraZeneca or traders that are already holding the stock can use the doji close to their advantage, since the pattern present a short-term pause in the stock's price action. This pause results in an entry point for traders depending of which way the stock resolves this short-term indecision.
The Doji is an important candlestick pattern that provides information on their own and as components in a number of important patterns. Doji form when a security's open and close are virtually equal. The length of the upper and lower shadows can vary and the resulting candlestick looks like a cross, inverted cross or plus sign. Alone, doji are neutral patterns.
Any bullish or bearish bias is based on preceding price action and future confirmation. In the case of AstraZeneca, given that the stock finished the session lower, bears should monitor the stock, as it could reverse if it manages to trade above its intraday high. Below a Doji illustration:
Related Partner Headlines
- AstraZeneca PLC (AZN): Today's Featured Drugs Laggard - TheStreet.com
- AstraZeneca, Nektar Opioid Constipation Drug May Have Failed Phase III Study - TheStreet.com
- FDA Places New Heart-Safety Hurdle In Path Of Opioid Constipation Drugs - TheStreet.com
- UPDATE: Pareto Securities Downgrades AstraZeneca to Sell - Benzinga
- UPDATE: Swedbank Downgrades AstraZeneca to Reduce on Valuation - Benzinga
- Blue Chip Stocks Paying The Highest Dividends (AZN, LO, LMT, VZ, BP) - Investopedia
- Lexicon Pharma: Blockbuster Potential From A Diabetes Drug - TheStreet.com
- AstraZeneca PLC (AZN): Today's Featured Drugs Winner - TheStreet.com
- AstraZeneca PLC (AZN): Today's Featured Health Care Winner - TheStreet.com
- Benzinga's Top Upgrades - Benzinga
Latest Partner Headlines
Dow Today: Verizon Communications (VZ) Higher - TheStreet.com
Separating the Bargains From the Busts - TheStreet.com
Cramer Quick Take: The 60-Inch TV Will Be Key This Holiday - TheStreet.com
Cramer Quick Take: Cisco Wins If Fiscal Cliff Is Resolved - TheStreet.com
Gap Up and Sit - TheStreet.com
Apple, Intel, MicroStrategy: Tech Winners & Losers - TheStreet.com
Windows 8 PC Sales Disappointing: Report - TheStreet.com
Cramer Quick Take: Buy Home Depot and Lowe's - TheStreet.com
Dow JonesCompany ID [INDEXDJX:.DJI] Last trade:15,303.10 Trade time:4:36PM EDT Value change:▲8.60 (0.06%)
S&P 500Company ID [INDEXSP:.INX] Last trade:1,649.60 Trade time:4:35PM EDT Value change:▼0.91 (-0.06%)
NASDAQCompany ID [INDEXNASDAQ:.IXIC] Last trade:3,459.14 Trade time:5:15PM EDT Value change:▼0.28 (-0.01%)
In The Wires
Voluntary Recall: Undeclared Sulphites in President's Choice® White Grape Juice
Catalyst Paper sells Elk Falls site
South Florida Prepares for Tourism Spike Over Memorial Day Weekend 2013
Celebrities and Advocates Come Together to Get "Pumped Up" About Autism Awareness
MBAC announces voting results for election of directors and ratification of Advance Notice By-Law
Protect Your Bubble Shares Tips on Avoiding Water Damage to Gadgets This Memorial Day Weekend
DUI Attorney Los Angeles | .05 = DUI? Not Yet. Still .08, Spells Trouble for Drivers Over Memorial Day
UTC Calls For Redemption Of All Of Its Outstanding 1.200 Percent Notes Due June 1, 2015