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AZN,chart shows parallel line of support and resistance, which makes a sp, prediction straightforward, other than the time. The price projection is 13146, however that is where the resistance line is for the month of April 2024, so the time AZN, takes to reach the upper resistance line , will result in the price projection increasing beyond 13146.
Sp, target is 12390, which is April 2023 peak price . There is a one year down trendline , from the april 2023 peak, which has been broken above , which is bullish. The monthly price bars reveal a higher 3 month pivot, which indicates the current uptrend. The intervening inverted bearish pivot high, has been broken above, which is bullish. Overhead supply, from previous trading in six months, is now below the sp. DYOR.
Volume today, to my surprise, was not comparable with previously heavy volume days, in the previous month. So the relatively light volume and sizeable rise, looks like the market makers, marking up the sp. Maybe the volume at the end of day, will dispel any doubt about whether the rally, has healthy volume support. DYOR.
Trading update, is due 18/5/24, so take that date into account, for my projected target date of 24/5/24.
Short sellers, in WOSG, are reducing according to the short positions record, which is bullish. DYOR.
The RSI, positive divergence, relates to the sp, troughs of 18/1/24 and 22/3/24, encompassing more than 2 months.
Using the first trough as the positive divergence pivot, projects a sp target of 489, with a time target date of 24/5/24.
The RSI, is expected to have risen above 50 today, and the uptrend should remain intact, while the RSI, remains above 50. DYOR.
My comment of 10/4/24, sp,target of 474 met and exceeded , so the RSI(relative strength index) positive divergence, is effectively unwound, and will no longer exert an effect on the sp. Underlying sector is bullish. DYOR.
Mishap with text. The RSI, positive divergence of six months, suggests a price target of 27-30. However there is expected price resistance from overhead supply from previous trading at 22, so buy if the sp can close above 22. Weak buy at present until sp, closes above 22. Underlying sector is strong and bullish. DYOR.
Impressive fundamental, shown on the lse. Webpage, seem to indicate that an offer for the company, would have to be very expensive from the offering party. Equals, is a company going places, with such a positive financial business. The small rise today and current price equaling the open price, although decent volume, implies sp, hesitation, so from a technical chart view, if some kind of retracement , previous highs at 126 and 128, might be attractive place, to add to positions, in equity.
If SPI, can break last high of 250, on 8/2/23, this would bring the sp, above any overhead supply from previous trading activity. There is a clear bullish uptrend, in place , and the 5 year chart, low price , difference added to 250, implies a target price of 448. Chart trendline, can provide a nearby stop loss level. The underlying sector, was strongest sector today. DYOR.
Sector is is rallying today. PANR, is retracing and may find resistance from yesterday japanese candlestick spinning top low of 37.3. Fibonacci retracement levels are 38.2% sp 34.3, and 50% sp 32.3. September highs, are in the region of the fibonacci 38.2% level of sp 34.3, lending strength to the likelihood, of retracement bottoming there. The RSI(relative strength index), will remain above 50, in an equity uptrend, so in this case, expect bounce from near 50, or a brief drop below 50, before crossing back above. The RSI, crossing above 50, is a buy signal in a trending equity.
Health sector broke above down trendline and also 1/3/24, time pivot, so bullish sector. FAB, broke above sp, resistance on heavy volume, causing the two volatility based Bollinger to separate, meaning fast sp, movement. The upward direction is confirmed by the RSI(relative strength index), cross above 50. The CCI (commodity channel index), crossed above it previous high, meaning a bullish swing failure. The last two major price tops, were 7, so that is a reasonable sp, target. If the lower Bollinger band begins to turn up, expect a price retracement, to begin. DYOR.
Weekly pivot low, in place, and rally today, brings sp, above down trendline of 424, which is bullish. RSI(relative strength index), shows large positive divergence beginning 14/2/24, from falling sp. Using 14/2/24, as the divergence pivot, implies a target price of 474, to accomplish symmetry, between the sp, and the RSI. Meantime, the sp, may try to find support, above the falling trendline at 424.
Technical chart on lse, shows weekly pivot peaks, on 22/1/24, and 18/1/24, the latter being lower, signifying a downtrend.
Positive divergence in the CCI and disparity index, increase probability of a short term rally. 3 days ago upper Bollinger band began falling and the fact that the lower Bollinger band continues to fall implies a sp, rally within 10 days, now 7 days.
The sp, today has rallied above yesterday's, inside price bar(high and low within range of previous day price bar). Target is weekly price pivot low of 140. DYOR
13/11/23 isolated price bar high, was equalled by the subsequent 26/2/24, isolated low, and the subsequent 25/3/24 low, equalled the 26/2/24 high, meaning a defined uptrend from higher lows. The sp, has broken upward with a rally above recent price resistance. Symmetry theory suggests a sp, target of 7.19. JLP, has broken above the long term downtrend, and is bullish, with the supporting sector heading upward. Volatility based Bollinger bands are separating suggesting increased volatility. There is overhead supply from previous trading, at the target price of 7.19, which could provide some resistance from stale sellers. DYOR.
Highest volume , for three years occurred, together with the one week down measuring price bar at the end of February 2024. Most of the price action, has been contained within the parameters of the end of February measuring bar, as expected.
There is positive divergence between the momentum indicators and the sp, leading to the probability that there is a sp, rally underway. The price today, closed at a 10 day high, leading to the conclusion the rally is definitely happening.
The icing on the cake, is that 6 different momentum indicators, show a bullish failure swing, where the indicator, crosses above its recent swing high. Those indicators are, RSI(relative strength), Willr%, Aroon,CCI(commodity channel index), Disparity index, and ROC(rate of change). DYOR.
Update, technical weekly chart, revealed the 1/1/24 price bar, made a new high, but then closed, below the close and open of the rally week, two weeks previous. The intervening week bar, was a small high/low. The 1/1/24, week price bar was a potent rejection of higher price movement. My previous comment price targets, are no longer relevant. DYOR.
Update, the weekly price bar of 25/12/23, made a new high, but then the close, was below the previous week close. This price bar was a potent reversal of the preceding rally, and essentially negated my previous comment. In addition the reverse head and shoulders formation, previously described, was negated when the time element failed to produce a subsequent higher high after the weekly price of 25/12/23.