AMGN looking strong following recent breakout. Like it long on a deeper p/b into the green the box. May require aggressive entry at the top of box as that would be a gap fill. Tighter stop would be a close below the green box. Larger stop for longer term holds would be a close below the 618 Fib. Targets would be recent high and then Fib extensions. Entry requires...
Big pharma hasn’t gotten the memo about there being a bear market. Just look at Amgen.
The biotechnology stock jumped to a new record high on November 8. The breakout followed a strong earnings report and data about its olpasiran cholesterol drug.
It’s consolidated in a tight range since then, demonstrated by the narrowing of Bollinger Bandwidth. That may...
The PEAD projected a Bullish outlook for $AMGN after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 71.43%.
broke horizontal support
Setup:
NASDAQ:AMGN 1D chart
enter with limit order when price pulls back - EP @ low of range
SL above last pullback
TP @ previous lows of Oct/Dec '21
R/R 3.7
⚠️ watch out for potential supports @ previous levels of resistance or support (marked with orange flags)
> 1:1 when hitting first support, 2:1 when hitting second, so trade...
Price is below the Bands.
Rectangle and price hit the bottom trendline and it shot up a bit for now
If it breaks down, targets in orange type below the rectangle structure.
No recommendation.
This pattern is neutral until a trendline is broken.
Probably will be broken, just not today perhaps
The PEAD projected a Neutral outlook for $AMGN after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 62.5%.
For a long period of time price on AMGN has been within an ascending channel
This channel could be viewed as a flag of a bullflag, but we will just assume its only an ascending channel .
A breakout higher out of the channel is required to continue the bull trend
Sometimes in a bear market a handful of stocks remain closer to their highs before rolling over. Amgen (AMGN) could face such a condition.
The main pattern on today’s chart are the candlesticks of July 8, 11 and 12. The drugmaker attempted to push above $249 but each time closed below that level. Also notice how this price area roughly matches the closing price...
Neutral until a trendline is broken with a trend in that direction.
Targets for a break to the upside are above the Rectangle and vice versa.
No recommendation
A price action above 234.55 supports a bullish trend direction.
Crossing below this level will negate the bullish stance.
Remains above its 200-day simple moving average.
Upside price momentum supports the bullish trend.
RSI leaves enough room for further upside price potential.
