Pharmaceutical giant AstraZeneca (AZN: sentiment, chart, options) announced that it has received a complete response letter (CRL) from the U.S. Food and Drug Administration (FDA) asking for additional information for the supplemental New Drug Application for Seroquel XR extended release tablets. The tablets are intended to treat major depressive disorder in adult patients.

AstraZeneca is evaluating the contents of the CRL and the proposed labeling revisions. It said it will continue discussions with the FDA and will provide a response to the agency in due course.

Options players are somewhat skeptical of the shares, as the Schaeffer's put/call open interest ratio (SOIR) for AZN stands at 1.11. This reading indicates that put open interest outnumbers call open interest among near-term options. The SOIR is also higher than 63% of all the readings taken during the past year.

Wall Street also has its doubts, with 8 of the 10 analysts following AZN rating it a "hold" or worse.

Technically speaking, the stock has bounced off its November low of $32.58, and rallied more than 21%, but is currently encountering some resistance in the 41.50 region. While the security has overcome resistance at its 10-week moving average, the equity is still facing potential resistance at its 20-week trendline. AZN has not closed a week above both of these moving averages since late October.