- AstraZeneca to invest £100 Million in Future Biogas.
- AstraZeneca’s Enhertu lung cancer treatment gets recommend for approval in the EU.
- AZN stock closed at $68.27, with a gain of 0.72% during the last intraday session.
The Cambridge-based drugmaker AstraZeneca researches and develops vaccines and several other prominent treatments for humankind.
On September 15, 2023, AstraZeneca’s Enhertu lung cancer treatment was recommended for approval in the EU. The DESTINY-Lung02 Phase II trial showed that Enhertu treatment has an objective response rate of 49.0% and a disease control rate of 93.1%. After being recommended for approval in the EU, the AZN stock price suddenly surged on September 15.
AZN stock price rejected the 20-day EMA and is now contesting the 50 and 200-day EMAs. If the bullish sentiment remains constant, the price might retest the 100-day EMA while rejecting the 50 and 200-day EMAs.
Recently, AZN stock closed at $68.50 and was up $0.23 in the pre-market trading. The stock is currently facing a pullback from the previous downtrend momentum. The market capitalization of AstraZeneca PLC is $209.93 Billion, and the average volume is 4.301 Million shares.
AstraZeneca Released Q2-2023 Report
AstraZeneca Plc announced its Q2-2023 financial report on July 28, 2023. It revealed positive outcomes in earnings and revenue. The reported EPS (earning per share) of $1.075 surpassed the estimated EPS by 8.80%, as the estimated EPS was $0.988.
The second-quarter reported revenue was $11.41 Billion. It surpassed the estimated $11.01 Billion revenue by $403.74 Million.
AstraZeneca To Invest £100 Million In Future Biogas.
AstraZeneca will invest £100 in Future Biogas to boost energy efficiency by opting for a carbon-emission-free biomethane gas system in the United Kingdom. The set-up is expected to become operational by 2025 and will provide 100 gigawatt-hours of green gas annually. The news about the transition was released on September 14, 2023.
Will AZN Stock Price Consolidate?
The Bollinger Band of AZN stock is currently contract, revealing low market volatility. However, the current candle trades above the SMA line, retesting the upper band. If the stock price achieves that, then the price might retest the previous resistance level of $71.50.
On the contrary, if the price shattered and touched the lower band, the price might melt towards the previous support level of $65.70.
The CMF is at the 0.00 mark, indicating neither strength nor weakness and the price might consolidate soon. However, the RSI score was 49.77 during the intraday session, which denotes strength in the market.
Conclusion
The market structure and price action express a rise in the participation of buyers in the market. New developments have raised hope among. Hence, this will encourage traders and investors to buy more. The technical and analyst rating suggests that the price might consolidate after a sudden spike.
Technical Levels
- Major resistance: $76.56 and $75.75
- Major support: $64.55 and $62.52
Disclaimer
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