We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be be analyzing a different chart using the Trade Triangles and his experience.
Today he is going to take a look at the technical picture of Alexion Pharmaceuticals, Inc. (ALXN).
I hope you are having a GREAT Holiday week !
This week let's take a look at ALXN which could possibly be putting in a Head and Shoulders top.
ALXN slammed down off the high which put in a red monthly MarketClub Trade Triangle.
Since the low made in November 2012, ALXN has made a weak counter trend rally which has put in a green weekly MarketClub Trade Triangle.
IF ALXN trades lower from here and puts in a red weekly MarketClub Trade Triangle
that would be bearish and put the odds with lower prices.
So I really think ALXN is a key Chart to Watch right now as a big move could possibly be on the way.
Thanks,
Jim Robinson
Profit Trading.com
Should have alterted us more than two months ago.
Nice analysis and good one to watch.