AZN Astra Zenica Opens Higher

You may remember gentle reader, that I posted about my AZN Astra Zenica Trade. I’m now up 5% since the post and it opened much higher. But why? Surely with all this negative press, everyone should be selling stock. Here’s what I think is going on.

Astra Zenica is doing the Vaccines at Cost to certain countries which will technically affect profits. I wonder if this has something to do with it.
No news is bad news – All Bloomberg was talking about today was who? Astra Zenica.
The World Health Organisation has said the drugs are safe.
On the Technical Side, the MACD has turned up and there’s a nice rise in the ATR which makes me think we have a good long here.
The European Regulator has come out and said there’s nothing wrong with the vaccine.

I’m looking for two targets here, firstly the top of the trend at around $52.64 then in extension if it breaks out bullish from the bearish trend at around $57.93.

Remember folks, whenever you see bad news for a company, it will be priced into the price of the stock in a few days. Then the stock recovers. If the news turns out to be fake, rubbish or otherwise unfounded, the buyers are ready. At this point, it looks like the market cares little for the countries halting the use of the vaccine. AZN is not just about these vaccines, they do a lot of other stuff too and I think this is a solid trade.

Earnings are not due till the 30th of April so we have a while.

I will say I had the vaccine and I felt pretty ill for a few days. But I’m back now fighting fit. In fact I think I feel better than before.