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AZN Stock Tickeron detected bearish Stock Pattern: Head-and-Shoulders Top AZN on October 22, 2024, netting in a 3.95% gain over 1 week

A.I.dvisor
at Tickeron.com
10/31/24
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+3.95% Gain from a Successful pattern Head-and-Shoulders Top
AZN - AstraZeneca PLC
Tickeron
Ticker: AZN
Company: AstraZeneca
Gain from shortening: +3.95%
Confirmed: 10/22/24
Succeeded: 10/29/24
Total length: 13 days
On October 16, 2024, A.I.dvisor detected a Head-and-Shoulders Top Pattern (Bearish) for AstraZeneca PLC (AZN, $78.31). 6 days later, on October 22, 2024, A.I.dvisor confirmed the Bearish pattern, setting a target price of the stock. On October 29, 2024, the stock hit the target price of $74.16 – resulting in a gain for traders who shorted the stock on the pattern detection date.

Momentum Indicator for AZN turns negative, indicating new downward trend

AZN saw its Momentum Indicator move below the 0 level on October 23, 2024. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 93 similar instances where the indicator turned negative. In of the 93 cases, the stock moved further down in the following days. The odds of a decline are at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Moving Average Convergence Divergence Histogram (MACD) for AZN turned negative on October 25, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 46 similar instances when the indicator turned negative. In of the 46 cases the stock turned lower in the days that followed. This puts the odds of success at .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where AZN declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

The Aroon Indicator for AZN entered a downward trend on November 01, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Bullish Trend Analysis

The RSI Indicator demonstrates that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 6 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where AZN advanced for three days, in of 344 cases, the price rose further within the following month. The odds of a continued upward trend are .

AZN may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

Fundamental Analysis (Ratings)

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 68, placing this stock better than average.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (5.325) is normal, around the industry mean (5.632). P/E Ratio (35.297) is within average values for comparable stocks, (48.974). Projected Growth (PEG Ratio) (0.870) is also within normal values, averaging (3.004). Dividend Yield (0.022) settles around the average of (0.164) among similar stocks. P/S Ratio (4.585) is also within normal values, averaging (3.643).

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. AZN’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.

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AZN
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General Information

a manufacturer of pharmaceutical products

Industry PharmaceuticalsMajor

Profile
Fundamentals
Details
Industry
Pharmaceuticals Major
Address
1 Francis Crick Avenue
Phone
+44 2037495000
Employees
89900
Web
https://www.astrazeneca.com