Astrazeneca seems to be the clear front-runner for the vaccine. There has been nothing but positive results so far, but that doesn't seem to be helping the stock since there was a massive selloff when reports came out about this.
There is potential for a gap fill and a bounce at around $54, but if it breaks lower than this, there will be more downside to come. We had a nice breakout from a bull flag but the pullback has been strong from a massive selloff. I still think there is potential to push higher over the next several years which is completely reliant on if they get approval for their vaccine. Even though they have pledged to not take a profit, that doesn't mean the stock won't continue to move higher (and to be honest, I think that is bullshit they are feeding the government so that they win the bid. Long-term, they will turn a profit especially if this turns into something like the flu-shot.)
Next week will be interesting for this one. Curious to see how this plays out.
As always, do your own research and formulate your own theories. I am not a financial advisor and this is not financial advice. Good luck!
There is potential for a gap fill and a bounce at around $54, but if it breaks lower than this, there will be more downside to come. We had a nice breakout from a bull flag but the pullback has been strong from a massive selloff. I still think there is potential to push higher over the next several years which is completely reliant on if they get approval for their vaccine. Even though they have pledged to not take a profit, that doesn't mean the stock won't continue to move higher (and to be honest, I think that is bullshit they are feeding the government so that they win the bid. Long-term, they will turn a profit especially if this turns into something like the flu-shot.)
Next week will be interesting for this one. Curious to see how this plays out.
As always, do your own research and formulate your own theories. I am not a financial advisor and this is not financial advice. Good luck!