Today, shares of AstraZeneca (NYSE:AZN) have crossed bearishly below their 10-day moving average of $49.30 on a volume of 1.8 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
There is potential upside of 3.2% for shares of AstraZeneca based on a current price of $48.32 and an average consensus analyst price target of $49.88. AstraZeneca shares have support at the 50-day moving average (MA) of $47.85 and additional support at the 200-day MA of $45.96.
AstraZeneca PLC is a holding company. Through its subsidiaries, the Group researches, manufactures and sells pharmaceutical and medical products. The Group focuses its operations on seven therapeutic areas: Gastrointestinal, Oncology, Cardiovascular, Respiratory, Central Nervous System, Pain Control, Anaesthesia and Infection.
Over the past year, AstraZeneca has traded in a range of $39.72 to $50.14 and is now at $48.32, 22% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.6%.