Where Do Investors Buy? $AMGN Crushed On Drug Data And CostShares of Amgen, Inc. (NASDAQ:AMGN) took a thumping today after they announced slightly better data on a cholesterol drug, compared to its peers already on the market. The problem is, the drug costs $15,000 a year and insurance companies will likely not cover the drug because it is only slightly better than what is on the market. The stock dropped over 6% and many investors rushed to buy it. That is a mistake. The stock will continue to trend lower until it hits $160.00, a major support gap fill level. The reasoning is simple. First, investors should never buy a gap lower on negative news from a stock at all-time highs. There will be more trimming of positions in the hedge fund industry and possibly analysts downgrading the stock. In addion, there is no major technical support that is strong enough to justify a buy level. The $160.00 level is major. Buy it there.by AnnabelleTraderPublished 7
AMGN / Reversal candlestick (short) ?AMGN / Reversal candlestick (short) ?Shortby FabioBiraghiPublished 3
Long now or maybe tomorrowHop on Amgen for a little ride up the short-term channel. Not sure if today's bounce will push it up right away, or if it'll wait another day. Good entry point thoughLongby UnknownUnicorn785485Updated 1
AMGEN Buying the pullback to demand zone highlighted in yellow. Entry: $152.98 Stop Loss: $151.5 Target: $180Longby PdunuwilaPublished 4
AMGN RESISTANCE ZONE, WAVE 2 RETRACEGood fundamental. At 145.28 resistance zone, seems like a Wave 2 retracement. Waiting for bullish candle/pennant breakout for Wave 3 confirmation, or resistance zone accumulation for a BUY.by happy04tPublished 2
AMGN Bell Curve?AMGN has deviated outside the inner channel into extreme ends of what would be considered to be the sides of bell curve. Short but be cautious. 1st PT around 165 if break then 2nd PT around 144. Shortby TraderMDUpdated 2
AMGN "correction"As we can see through price action that price is in correction price also formed a flag pattern hence confirming the downward move. strict stop loss at 169. one should also see for some sport at the support zone which is quite strong.Shortby yuvrajsingh7722Updated 222
AmgenDemand zone at former resistance on the daily chart. Which should give this level an extra bounce. Entry: $163.82 Stop Loss $161.79 Target1: $170Longby PdunuwilaUpdated 2
Confirmed harami signal from resistance lineconfirmed sell signal 1st target 165.09 2nd target about 149 stop at 172Shortby lukatradePublished 1
AMGN PUTAMGN, PUT when price break 168.74. The first target is 164.75. The second target is 160.40Shortby pointraderPublished 1
AMGNA wedge has been forming. A breakout above $165 may be a possibilityby AntoninoRomano37Published 2
Horizontal Horizontal movement this stock looks good for swing and position trades. Or as an option trade straddles and strangles. However one interesting aspect is that the OBV is in a trend upward, precluding an long run trend. by TraderMDPublished 1