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Biotechnology Industry Technical Analysis

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- 1/8/2021 -
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Alexion Pharmaceuticals Inc (ALXN)

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is strongly overboughtBroken trend resistance line
Daily :Williams' Percentage Range is strongly overboughtDaily  MACD line has moved below its signal linePrice is near the Fibonacci 23.6% retracement level
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It was a second consecutive positive week for the Alexion Pharmaceuticals Inc (ALXN). During the week, the ALXN climbed 1.11 points, or 0.71%, and closed at 157.35 on Friday, January 8, 2021. Weekly volume was 49% above average.

Long-term trend: [See ALXN long-term trend chart]
A long-term downtrend had started on July 23, 2015 at 208.88 and reached 72.67 on March 16, 2020. ALXN lost 136.21 points, or 65.21%, in 242 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (57.98) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. ALXN may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See ALXN medium-term trend chart]
A medium-term uptrend had started on March 16, 2020 at 72.67 and reached 160.03 on December 14, 2020. ALXN gained -87.36 points, or -120.21%, in 39 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (122.39) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See ALXN weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The weekly MACD line is above its signal line since September 11, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See ALXN short-term trend chart]
A short-term uptrend had started on December 24, 2020 at 151.99 and reached 158.95 on January 6, 2021. ALXN gained -6.96 points, or -4.58%, in 13 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See ALXN daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.93
Williams' Percentage Range (W%R) 7.60
Strong Overbought
Lane's Stochastic (%D-Slow) 73.87
Greed/Fear Indicator (GFI) 71.41
Moving Average Converg./Diverg. (MACD) 7.77
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.84
Williams' Percentage Range (W%R) 5.40
Strong Overbought
Lane's Stochastic (%D-Slow) 78.94
Greed/Fear Indicator (GFI) 79.14
Moving Average Converg./Diverg. (MACD) 6.61
Trading Signals
Description Value Chart
Upper Bollinger Band 171.78
Daily Stochastic Crossing 157.68
Price 157.35
Weekly Stochastic Crossing 154.44
20 Day Moving Average 152.43
Parabolic System 141.55
50 Day Moving Average 134.30
Quarterly Trendline Resistance 131.19
Monthly Trendline Resistance 129.68
Lower Bollinger Band 127.98
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Biotechnology 20
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 151.99
Low Date 12/24/2020
High 158.95
High Date 01/06/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 116.61
Low Date 12/09/2020
High 160.03
High Date 12/14/2020
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 129.68
Support 121.65
Low 99.93
Low Date 08/21/2020
High 160.03
High Date 12/14/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 131.19
Support 122.39
Low 72.67
Low Date 03/16/2020
High 160.03
High Date 12/14/2020
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 113.35
Support 57.98
High 208.88
High Date 07/23/2015
Low 72.67
Low Date 03/16/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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