I became bullish for Alexion (ALXN) two months ago when it crashed down to $110. Luckily it was a good timing. Very soon, it started to fly and within a few weeks, it went up to over $140, a good run in such a short period of time.
Today, it reported its earnings. The initial reaction was quite good as it opened as high as +$5. If it could hold the gain, it would be a great momentum for it to run further higher but it didn't. Quickly its hype faded and more badly it ended up losing $1.6. This is a very bad price action, a textbook bearish indicator with open-high-low-close. I think it is heading down towards $120 probably in the weeks ahead. If you already got a good profit, it is the time to take the chips off the table for now. Long time Alexion may still go up but near term the downside risk is very high!
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