Biopharmaceutical company Jazz Pharmaceuticals JAZZ is scheduled to report their latest earnings figures after the close of trading Wednesday. Let's check and see how if charts and indicators "sing."
In the daily bar chart of JAZZ, below, I can see a chart that has problems rallying. The shares are in a wide downward channel. JAZZ trades below the declining 50-day moving average line and below the declining 200-day line.
The On-Balance-Volume (OBV) line has been in a downward move the past year and tells me that sellers of JAZZ have been more aggressive than buyers. The trend-following Moving Average Convergence Divergence (MACD) oscillator is bearish with its position below the zero line.
In the weekly Japanese candlestick chart of JAZZ, below, I can see that the shares have been weak since the middle of 2021. The recent candles are red (bearish) with no lower shadows to suggest that traders have started to reject the lows. The shares trade below the declining 40-week moving average line.
The weekly OBV line shows weakness from April of last year. The MACD oscillator has just fallen back below the zero line for an outright sell signal.
In this daily Point and Figure chart of JAZZ, below, I can see that prices have reached a downside price target in the $141 area.
In this weekly Point and Figure chart of JAZZ, below, the chart suggests a downside price target in the $122 area.
Bottom-line strategy: I have no special knowledge of what the leadership of JAZZ will tell shareholders Wednesday evening but the charts and indicators suggest further price weakness in the weeks ahead.
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