In this daily bar chart of ALXN, below, we can see that if we ignore or downplay a May/June selloff and rebound that prices have been in a largely sideways trading pattern for much of the past 12 months. In the past few weeks ALXN rallied above the bottoming 200-day moving average and the flattening 50-day average line.
The On-Balance-Volume (OBV) line has been in a downward trend from early January but has shown some improvement since late May. The MACD (Moving Average Convergence Divergence) oscillator turned positive in June.
In this weekly chart, below, we can see how ALXN has been trading above the declining 40-week moving average line. Closes above $130 and above $140 should strengthen the picture. The heavy weekly volume in May could have been a selling climax. The weekly MACD oscillator has crossed to the upside below the zero line for a cover shorts buy signal.
In this Point and Figure chart, below, we can see an upside price target of $147. Strength to $131.30 will help the bulls.
Bottom line: A quantitative upgrade and an evolving chart pattern could give ALXN shares a boost.