AstraZeneca vaccine study put on hold

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By :  ,  Financial Analyst

AstraZeneca's vaccine study put on hold

AstraZeneca's Covid-19 vaccine phase 3 trial has been put on hold due to a suspected serious adverse reaction in a participant in the U.K., according to the Stat News. 

From a chartist point of view, the stock price remains in consolidation mode below the key resistance threshold at 8736p. A morning star pattern has formed but the signal still needs to be confirmed. The daily Relative Strength Index (RSI, 14) is reversing up but remains below 50% and remains capped by a declining trend line. The 20/50DMAs still play a resistance role. As long as 8736p is resistance, the risk of a break below the swing low at 7930p will remain high. Alternatively, a push above 8736p would reinstate a bullish bias with 9350p as first target.

Source: GAIN Capital, TradingView

Related tags: Coronavirus Equities

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