Based on the provided news and data, I'll analyze AZN's price trend and provide a forecast for next week.
Technical Analysis
The stock is currently trading at $66.60, showing a bearish trend in the short term. Key technical levels:
- Support: $64.76 (Fibonacci S1)
- Resistance: $67.48 (Fibonacci R1)
- RSI(14) at 50.74 indicates neutral momentum
- MACD at -0.18 suggests bearish momentum
Recent Key Events Impact
- Leadership Restructuring in China:
- AstraZeneca has restructured its leadership following a scandal involving former president Leon Wang
- This has led to reduced engagement from Chinese hospitals and declining sales
- Negative impact on short-term price movement
- FDA Approvals :
- Datroway approved for HR-positive, HER2-negative breast cancer treatment
- Calquence combination therapy approved for mantle cell lymphoma
- These approvals are positive catalysts but haven't offset China concerns
- Medicare Drug Price Negotiations:
- AZN's Calquence included in the next round of Medicare price negotiations
- Could impact future pricing and revenues
- Adding uncertainty to medium-term outlook
Price Forecast for Next Week
Based on technical indicators and recent news:
- Bearish Scenario (60% probability): Price likely to test Fibonacci S1 at $64.76
- Neutral Scenario (30% probability): Consolidation between $66-67
- Bullish Scenario (10% probability): Limited upside potential to Fibonacci R1 at $67.48
Trading Recommendation
Given the current technical setup and negative news flow from China operations, recommend SELL with:
- Entry: Current market price ($66.60)
- Target: $64.76 (Fibonacci S1)
- Stop-loss: $67.48 (Fibonacci R1)
The stock is likely to face continued pressure due to uncertainty around Chinese operations and potential impact from Medicare price negotiations. While new drug approvals provide some positive momentum, they are unlikely to fully offset these headwinds in the short term.
Based on the provided news and data, I'll analyze AZN's price trend and provide a forecast for next week.
Technical Analysis
The stock is currently trading at $66.60, showing a bearish trend in the short term. Key technical levels:
- Support: $64.76 (Fibonacci S1)
- Resistance: $67.48 (Fibonacci R1)
- RSI(14) at 50.74 indicates neutral momentum
- MACD at -0.18 suggests bearish momentum
Recent Key Events Impact
- Leadership Restructuring in China:
- AstraZeneca has restructured its leadership following a scandal involving former president Leon Wang
- This has led to reduced engagement from Chinese hospitals and declining sales
- Negative impact on short-term price movement
- FDA Approvals :
- Datroway approved for HR-positive, HER2-negative breast cancer treatment
- Calquence combination therapy approved for mantle cell lymphoma
- These approvals are positive catalysts but haven't offset China concerns
- Medicare Drug Price Negotiations:
- AZN's Calquence included in the next round of Medicare price negotiations
- Could impact future pricing and revenues
- Adding uncertainty to medium-term outlook
Price Forecast for Next Week
Based on technical indicators and recent news:
- Bearish Scenario (60% probability): Price likely to test Fibonacci S1 at $64.76
- Neutral Scenario (30% probability): Consolidation between $66-67
- Bullish Scenario (10% probability): Limited upside potential to Fibonacci R1 at $67.48
Trading Recommendation
Given the current technical setup and negative news flow from China operations, recommend SELL with:
- Entry: Current market price ($66.60)
- Target: $64.76 (Fibonacci S1)
- Stop-loss: $67.48 (Fibonacci R1)
The stock is likely to face continued pressure due to uncertainty around Chinese operations and potential impact from Medicare price negotiations. While new drug approvals provide some positive momentum, they are unlikely to fully offset these headwinds in the short term.