Today’s instrument is the Astrazeneca Plc. stock traded in the LSE exchange under the ticker AZN.
Image Source: Unsplash
If we look at the AZN Weekly chart, we can see it bouncing from £9,250 its support level twice this week, steadily building up momentum and moving towards up to the previous price level of £9,500. Its last traded price was £9,433 with overhead resistance of £9,500.
AstraZeneca Plc. had scheduled a third-quarter earnings announcement today 12/11/2021. If earning expectations are surpassed, we could expect the price to move upwards, towards the £9,500 price range.
Today we could expect a move upwards near the £9,500 price range.
If however, it doesn’t manage to hold above the current price range of £9,433 then a case can be made for moving towards and below the £9,250 support level.
(Click on image to enlarge)
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