Amgen Inc. (AMGN) approaching significant resistance, able to absorb weekly buying pressures. From here (AMGN) can fall back to channel support, eliciting losses of 20% over the following 3-5 months. Inversely, if a settlement above this resistance level occurs, (AMGN) would be placed into a buy signal where gains of 20% would be expected over the following 5-6 months.
The PEAD projected a bullish outlook for NASDAQ:AMGN after a negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 75%.
Possible swing trade: This is setting up for a 2:1 r/r if you use the newer support line as a stop and the area of resistance as a profit taking point. Depending on your appetite for risk, it would also be an option to use the stronger support line as your hard stop. Recent news about Prolia reducing fracture risk compared to a competitor is positive. DYOR...
Keep Amgen on your radar. It has formed a rather large cup and I've measured the conservative parameters for the cup height.
Conservative price target: FWB:280
No position yet but I'll be watching the daily candles and volume to snipe the entry when it reverses.
Stay tuned!
Summary
Amgen has realized positive revenue growth, despite today's challenging operating environment.
The company has positive catalysts, such as acquisitions, and a positive product pipeline, which support the acceleration of revenue growth and position it well for long-term success.
Additionally, AMGN is expanding its biomanufacturing capacity to cater to...
Amgen is out of the accumulation phase and looking good for a short-term buy. This is a technical analysis, do your fundamental analysis. If the price sustains above the blue box, hold it for the mid-term and keep SL tight as there is no need to book loss here. use the above resistance bands to trail SL till the top... if the price rejects at certain levels, these...
On this chart the price is in a clear rising channel: lower band is acting as support and upper band is acting as resistance. At this time the price is going down, but it's still in the mid of the range. So the best thing to do is to wait for the price to hit the support in order to enter a long position.
Target/take profit is displayed on the chart (295,87)
AMGN Day Setup for Long Call:
1- Current trend is bullish
2- Trend line is respected many times
3- currently the price has touched the trendline to make its HL and moving up to make HH
4- next support is at 229
5- next resistance is at 256
6- RSI is oversold at 1D view
Entry: 245
SL: 228
TP: 285
RRR: 1:2.5
Price has broken the bottom line.
No recommendation.
Short is less than 2%.
EPS (FWD)
17.67
PE (FWD)
14.52
Div Rate (FWD)
$8.52
Yield (FWD)
3.32%
Short Interest
1.68%
Market Cap
$136.88B
Amgen Inc. discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease,...
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 55.56%.
AMGN Amgen to buy HZNP Horizon Therapeutics for about $27.8 billion.
This huge spend could trigger a selloff in AMGN Amgen stock after earnings.
It`s speculative, but looking at the AMGN Amgen options chain ahead of earnings , I would buy the $240 strike price Puts with
2023-2-17 expiration date for about
$2.75 premium.
If the options turn out to be profitable...
Amgen Inc. discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of...
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...
