Positive results from the study for the treatment of non-small cell lung cancer gave the air under the wings for Astra Zeneca on Friday, prompting the share price to reach our målkurs. The nearest avstämningsnivå on the upper side is at 605 followed by 640kr
Astra Zeneca presented during the Friday, positive learning outcomes from the Pacific, the study immunterapibehandlingen of non-small cell lung cancer in stage 3 who cannot have surgery.
The stock rose strongly on the announcement and achieved our målkurs from our previous buy recommendation on 25 april 2017. Technically speaking, formed a major gap in the chart which I interpret as a regular gap that needed to be covered in the coming months. This means that in such a case a certain backlash down after Friday’s strong rise. Would on the other hand, the shares continue up through the previous highs and do not show any willingness to rebound, it may be a question of a so-called breakaway gap, which in such cases indicates the start of a trendande movement and significantly higher rates in the future.
The next few weeks, the situation will become clearer as the gap is concerned. On the top is resistance at the previous highs around 590 and 620, and the resistance at kanaltaket around 645kr. On the downside support in the vicinity of the mouth beginning d.v.p. around 566kr.
We recommend abstinence for that the situation will become clearer whether this provides grounds for a more fundamental re-evaluation or if most of the time now already embodied in the price and a return to a sideways handelsintervall between just under 500 and at 600kr.
The stock is traded on the stockholm stock exchange, under the symbol AZN.
Astra Zeneca
Målkurs achieved
590r
Ticker
AZN
Målkurs
590kr
Market
The OMXS Large Cap
P/E
23
Latest
593kr
Direct avk.
4.3%
