ALXN is approaching our first resistance at 137.60 where we might see a drop in price to our first support at 128.06.
Stochastic is also seeing resistance where we might see a corresponding drop in price.
ALXN is approaching our first resistance at 137.60 (horizontal swing high resistance, 61.8% fibonacci extension, 78.6% fiboancci retracement) where a strong drop might occcur to our support level at 128.06 (horizontal pullback support, 50% fiboancci retracement).
Stochastic (55,5,3) is also approaching resistance where we migth see a corresponding drop in price.
ALXN is approaching our first resistance at 137.60 (horizontal overlap high resistance, 61.8% fiboancci extension, 78.6% fiboancci retracement) where a strong drop might occur below this level pushing price down to our major support at 128.06 (50% fibonacci retracement).
Stocahstic (55,5,3) is also approaching resistance where we might see a corresponding drop in price.
An intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
($ALXN) I have already flagged up alexion when price was around 112-115 dollars saying there was a good opportunity for an entry long.
Recently we have had an important sign because the price broke the hystorical downtrend since july 2015. We had some indicators overbought but thank to this pullback we can wait for a second entry long position.
Time to raise up the head has come for ALexion pharmaceuticals. After some years in a trading range and a never ending downtrend since 2015 (black line) price has broken it up reaching recently 135.87 dollars. As showned in the graph we have an important technical signal which is the cross between MA 50 and MA 200. We have also the RSI confirming tghe momentum and...