AstraZeneca (AZN) has outlined an interesting chart pattern since May. Traders who are into chart patterns could look up a broadening pattern. This pattern is like a backwards triangle in that prices start with the apex and widen out from there. Broadening patterns can be top patterns and they can be continuation patterns. Let's look closer.
More from Investing
Many tech valuations are now back to 2016 or 2017 levels, and quite a few contrarian indicators point to extreme bearishness.
No one trusts a bounce to last at this point, and they simply are hoping for some relief from the unpleasant action.
APD got a "Buy" recommendation, but my analysis doesn't jibe.
Here's our updated bullish strategy on PXD.