Stock Chart ALXN

Stock Chart Analysis ALXN

Alexion Pharmaceuticals, Inc. (Public, NASDAQ:ALXN)

Drug stocks have been outperforming recently, and many look like they may be ready to surge higher. ALXN is one that has held up very well throughout the recent turmoil in the markets. It is very close to confirming a double bottom off it's 200 day sma which would yield a target of $50 on a breakout. It would need to get over $43 in order to confirm the double bottom, but it could also in theory be bought here as it is bouncing off the 20 day sma. There are actually a few different ways to play this chart, but the bottom line is that it is bullish looking on all timeframes in my opinion.


Good Trading,


Joey

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