[Tryst]

Is AZN now a pullback buy at 4200?

I don't think it meets the methods requirements imo, as the pullback is not only very sharp but the volume was heavier than the continuation volume, and so it is not what the method looks for, as it says to look for lighter contracting volume on the pullback.

I agree. Its also formed an Island Top reversal pattern. High volume bars on the gap up and the gap down. Those who went long at the price range of the island top will be hurting and wanting to get out, esp. now that pfizer has pulled out of the deal. Island tops are typically formed by news driven events...and AZN is perfect example of that.

I may open a short spread bet on the sector tomorrow.