Long Position on AZN @ $59.00 on 7/21/2020 (Momentum)

AstraZeneca PLC (AZN) discovers, develops, and commercializes prescription medicines in the areas of oncology, cardiovascular, renal and metabolism, respiratory, autoimmunity, infection, neuroscience, and gastroenterology worldwide.

Its marketed products include Arimidex, Casodex/Cosudex, Calquence, Faslodex, Imfinzi, Iressa, Lynparza, Nolvadex, Tagrisso, and Zoladex for oncology diseases; Atacand/Atacand HCT/Atacand Plus, Brilinta/Brilique, Crestor, Plendil, Seloken/Toprol-XL, Tenormin, and Zestril for cardiovascular diseases; and Bydureon, Byetta, Farxiga/Forxiga, Kombiglyze XR/Komboglyze, Onglyza, Qtern, Symlin, Xigduo/Xigduo XR for metabolic diseases.

The company's marketed products also comprise Accolate, Bevespi Aerosphere, Bricanyl Respules, Bricanyl Turbuhaler, Daliresp/Daxas, Duaklir Genuair, Tudorza/Eklira, Fasenra, Oxis Turbuhaler, Pulmicort Turbuhaler/Pulmicort Flexhaler, Pulmicort Respules, Symbicort pMDI, and Symbicort Turbuhaler for respiratory diseases; Fluenz Tetra/FluMist Quadrivalen and Synagis for infection diseases; Movantik/Moventig, Seroquel IR/Seroquel XR, and Vimovo for neuroscience diseases; and Losec/Prilosec and Nexium for gastrointestinal diseases.

The company serves primary care and specialty care physicians through distributors and local representative offices.

The company was formerly known as Zeneca Group PLC and changed its name to AstraZeneca PLC in April 1999.

Astrazeneca Plc reported 1st Quarter March 2020 earnings of $0.53 per share on revenue of $6.4 billion. The consensus earnings estimate was $0.47 per share on revenue of $5.9 billion. Revenue grew 15.7% on a year-over-year basis.

Please note, this stock reports earnings on July 30th.

As news of potential deals with the European Union strike in search of a  COVID-19 vaccine, AZN has been a viable candidate. This should result in an increase in share prices. This stock has just moved above it's 50-day moving average, which is a sign of positive upward movement.

Entry point: $59.00

52-week trade range: $36.15 - $64.94

Stop/Loss: $56.00

Target Price: $65.00

Updates

10/7/2020 10:10:19 AM

AZN closed at $53.50

Position closed on 10/7/2020 at price of $53.50 with a -9.32% loss in 78 days.

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