Medium term view - SHIRE PLC : The Stochastics are overbought.
The trend has been momentarily interrupted by a correction. It approaches the resistance at 4,085.00 p, which also is the invalidation level. It should cause a fall and resume the bearish trend. The next target is at 2,243.00 p. The invalidation level is below 4,085.00 p.Arguments :
- The major resistance has been reached, it causes the fall.
- The Stochastics are overbought.
- The moving average is capping prices.
Shire is a holding company. Through its subsidiaries, Co. operates as a biotechnology company focused on serving people with rare diseases and other conditions. Co.'s portfolio covers seven therapeutic areas: Immunology, Hematology, Neuroscience, Internal Medicine (IM), Genetic Diseases, Oncology, and Ophthalmics. Some of Co.'s marketed products include GAMMAGARD, HYQVIA and CINRYZE for Immunology, ADVATE/ADYNOVATE, VONVENDI and FEIBA for Hematology, VYVANSE and ADDERALL XR for Neuroscience, LIALDA/MEZAVANT and PENTASA for IM, ELAPRASE and REPLAGAL for Genetic Diseases, ONCASPAR and ONYVIDE for Oncology and XIIDRA for Ophthalmics.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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