Alexion Pharmaceuticals, Inc. is a biopharmaceutical company from the USA. The development and production of medicines is the group’s main business area. The company, which is listed in the NASDAQ 100 and S&P 500, was founded in the year 1992 with headquarters in New Haven, Connecticut. In the following analysis, we will expand on the company’s stock from a technical point of view.
In the daily chart, we can see a clear downward trend, which is currently far into the correction. The SMA 200, influential for big market participants, has also been reached.
In the subordinate trend size, the first signal has already formed, in the form of a 123 in the short direction. If the value shows weakness upon the opening at the SMA 200, an entry with a stop loss above the last high point at approx. 127.50 USD is possible. For a little more security, one can wait for a second signal (blue dotted arrows); this is also worthwhile due to the large downward potential with this stock.
The target area is located at approx. 97.50 USD (green zone). If the marker at 130 USD (red line) is clearly and sustainably exited upwards, one should abandon the short scenario.
Before trading, one should take news in the environment and from the company into account. Similarly, one should also observe the overall market.
Possible trading parameters
Entry: under 123 USD
Stop: 127.50 USD
Target: 114 USD, 109 USD, 97 USD
Neither the author nor our company is invested in the securities and underlyings discussed at the time of publishing this analysis.
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