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AstraZeneca Up on Heavy Volume in Possible Trend Reversal (AZN)

By Shiri Gupta

The price of AstraZeneca shares has climbed to $27.66 (a 0.1% change) on heavy trading volume. Today's volume of 5.0 million shares tops the average 30-day volume of 3.7 million shares. Spikes in volume can validate a breakout or signify a potential turning point.

SmarTrend recommended that its subscribers protect gains by selling shares of AstraZeneca on July 27th, 2015 by issuing a Downtrend alert when the shares were trading at $32.70. Since that call, shares of AstraZeneca have fallen 15.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Over the past year, AstraZeneca has traded in a range of $26.97 to $70.67 and is now at $27.69, 3% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has slid 2.4%.

Keywords: unusual volume AstraZeneca

Ticker(s): AZN