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Trading Idea - AstraZeneca PLC, 08-12-2023
Trading Signal: #L-AZN
| Order | Sell |
| Direction | Bearish |
| Pattern | Trading in flag pattern |
| Interval | 1 hour |
| Length (Candles) | 5 |
Idea Summary
The medium term AstraZeneca stock price forecast is bearish. The AZN stock price is retracing down after reflecting off the resistance of a flag chart pattern . Most likely the price will continue falling under the 200-period moving average MA(200) after breaching below the Fibonacci 38.2 level while there is a likelihood it may reverse and start rising to test the MA(200) and resistance again.
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