Alexion: Trading around Volume Profile POC
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Alexion business depends on patent-protected therapies in ultrarare and rare diseases of high unmet medical needs. While competitors are entering the market with biosimilars, Alexion still maintains an essential share of the market. My long term view is bullish.
However, from a technical point of view, we are in a critical consolidation phase that started at the end of October 2019. The stock price is consolidating around $107.88 level.
What to do now?
I would wait for Alexion to exit the consolidation phase with a breakout. My signal is the break of the $116.61 important resistance. Look at the purple line in the graph (Developing POC) to monitor interesting volumes movements able to push up the price (in the chart Developing POC is overlapping the POC red line). I suggest to not go in with a trade immediately after the resistance breakout since Alexion presents high uncertainty. Thus wait for a confirmation green candle (daily).
Disclosure: My ideas contain statements and projections based on assumptions on capital markets, and therefore inherently subject to numerous risks and uncertainties.
Before buying or selling any stock you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal.
I am not a financial advisor.
Alexion business depends on patent-protected therapies in ultrarare and rare diseases of high unmet medical needs. While competitors are entering the market with biosimilars, Alexion still maintains an essential share of the market. My long term view is bullish.
However, from a technical point of view, we are in a critical consolidation phase that started at the end of October 2019. The stock price is consolidating around $107.88 level.
What to do now?
I would wait for Alexion to exit the consolidation phase with a breakout. My signal is the break of the $116.61 important resistance. Look at the purple line in the graph (Developing POC) to monitor interesting volumes movements able to push up the price (in the chart Developing POC is overlapping the POC red line). I suggest to not go in with a trade immediately after the resistance breakout since Alexion presents high uncertainty. Thus wait for a confirmation green candle (daily).
Disclosure: My ideas contain statements and projections based on assumptions on capital markets, and therefore inherently subject to numerous risks and uncertainties.
Before buying or selling any stock you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal.
I am not a financial advisor.
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