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Shares of AstraZeneca Exhibit Possible Trend Reversal as it Trades Higher (AZN)

By Shiri Gupta

Shares of AstraZeneca are trading up 0.7% to $30.42 today on above average volume. Today's volume of 3.8 million shares tops the average 30-day volume of 3.7 million shares. Unusually high volume can signify a potential turning point or validate a breakout.

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 7.6%. 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 $30.36, 13% above that low. The 200-day and 50-day moving averages have moved 2.38% lower and 0.21% lower over the past week, respectively.

Keywords: unusual volume AstraZeneca

Ticker(s): AZN