Thursday, August 23, 2012

AstraZeneca - a Pill for profits


AstraZeneca has broken out from the horizontal channel, BULLS ARE IN CONTROL. The horizontal breakout has a target of 1950 on the upper side. 

The volumes have grown substantially in the last 2 days of trading pointing to the fact that people are expecting prices to rise further. 

Other technical indicators are also confirming the bullish move in Astra

Parabolic SAR has crossed below the price which again denotes buy side moves

MACD signal line has crossed the MACD line which recommends us to take buy side postions 

ADX is also rising and DI+ has crossed DI- which indicates the uptrend

Plan of action- Buy around 1760-70 with a stoploss of 1725
TARGET -1850 , TARGET2-1950 


Deepika Solanki, Technical Analyst
Team TopdataIndia

Your feedback and comments are always welcome. For any issues with understanding the content please mail us on info@topdataindia.com
Like US on Facebook www.facebook.com/topdataindia
Follow us on twitter @topdataindia

No comments:

Post a Comment

LinkWithin

Related Posts Plugin for WordPress, Blogger...