This company's share soars high, above 17% in 7 sessions. Have you invested in this share?

AstraZeneca India shares soars high above 17% in 7 sessions. Should you invest in this share?

Have you invested in this share

AstraZeneca is a British-Sweden multinational pharmaceutical company. The headquarter of the company is in Cambridge, London. The firm has a portfolio of products across oncology, cardiovascular, gastrointestinal, infection, neuroscience, respiratory, and inflammation. The firm is also known for developing the covid vaccine in partnership with Oxford, and the vaccine is marketed in India under the brand name Covishield. 

Its Indian division is a listed company under the name of AstraZeneca India. The share closed at Rs 3049 on the stock exchanges on Tuesday, 12th July 2022. The stock is up 17% in the last seven sessions and has given a good breakout. The technical of the stock is strong.

Related: Best Pharma mutual funds to invest in 2022

Technical breakout in AstraZeneca India share

The stock has given a breakout above Rs 3000. The stock has been trying to breakout above Rs 3000 for some time now, but it was unable to break out earlier. The stock has given a good 17% return in the last seven sessions, and the volumes in the stock are higher than the average. The volume yesterday was higher than the 10-day average volume.

The daily RSI of the stock is giving breakout signs, with the value of the RSI now at 67.08. The ADX value is at 24.56. The breakout volume is strong, and the volume trend is upwards. This means that the stock is breaking out at high volumes, and the stock is giving positive signs in the short term and medium term. The short term-target for the stock is Rs 3300, and the medium-term target for the stock is Rs 3500. You should do your research, and the technical breakouts are not always reliable.

Related: 5 Sectors to keep an eye in 2022

Conclusion

AstraZeneca India's share has crossed Rs 3000 on strong volumes, and the stock is showing breakout signs on good volumes. The stock technical patterns are bullish, and the RSI is 67+. The ADX value is at 24.56. Also, the OBV value is increasing daily. The stock has increased by 17% in the last seven sessions, and the short-term target price, according to experts, is Rs 3300. The medium-term target is Rs 3500. Read this article to check how large cap and mid cap stocks are performing under current volatile market conditions. 

Disclaimer: This article is intended for general information purposes only and should not be construed as insurance or investment or tax or legal advice. You should separately obtain independent advice when making decisions in these areas.

NEWSLETTER

Related Article

Premium Articles