Amgen: Short term up5th wave finished right at the major support, hoping for a jump if the support still valid. Previous batch of trades has closed except AMZN still running. (BABA-0.6%, UPS-1%, V-2%, AXP+1.5%, MAR+1.5%, SBUX+3%, WFC+0%)
AMGN trade ideas
AMGN LONG POSITIONNASDAQ:AMGN
On a weekly timeframe chart, we can see that the candlesticks made a channel which have support line near 215 and the resistance near 260. We tasting support there.
AMGNAMGN - shares haven't had a weekly close below $216 in over a year. This is a key level, needs to hold. Weekly RSI is around 38.2. Shares bounced off this RSI level several times in the past.
Amgen Inc. (AMGN)Interesting graphical retracement for the Amgen stock which sees a considerable decline from the highs of the year. Where does the caution stem from? First, management highlighted that new patient prescriptions remain below pre-COVID-19 levels, and second, variants are suggesting demand may be muted for now. The stock has a solid capital appreciation potential and dividend growth prospects out to 2024-2026.
Annual Profit: 9.5 bil $
Total debt: 32.7 bil $
$AMGN may bounce from hereFormed nice base at this level. Good opportunity to accumulate for long term.
Amgn on SupportAmgn has bounced from this level 3 times before. Daily Macd is about to turn. RSI is indicating Oversold. Might go 230+
Amgen (AMGN) Swing- Solid company
- Has had downward trend for weeks but is now at support
- For the six months ended 30 June 2021, Amgen, Inc. revenues increased less than 1% to $12.43B.
- Net income decreased 42% to $2.11B. Revenues reflect Prolia segment increase of 20% to $1.57B
- Other revenues segment increase of 28% to $721M, also reflect Enbrel segment decrease of14% to $2.07B, Neulasta segment decrease of 19% to $968M.
- Net income was partially offset by Research and development increase of 7% to $2.05B (expense), Selling.
$AMGN with a Neutral outlook following its earnings #Stocks 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 71%.
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Bias: UpOverall in a triangle formation. Expecting a break of the triangle in future. Potential buy trade. Make sure to apply SL & TP.
Buy on Break-Out - AMGN [S] 1 June 2021AMGN
Relative Volume: 1.23
Fib Extension 0.618: Swing price target 251.75
Annual Performance: 4.86%
Monthly Performance: 4.8%
Trend
Monthly: Uptrend
Weekly: Side
Daily: Uptrend
EMA: Potentially bullish on breakout
Slow Stochastics: Golden Crossover
RSI: Overbought zone
Put/Call Ratio: 0.292
Wait for breakout during final trading hour
TF1D Break-out at 241
TF1H Confirmation: Green Volume
Symmetrical TrianglePattern is neutral until a trendline has been broken.
No recommendation.
This does not appear to be a tight triangle, yet.
$AMGN with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $AMGN after a Negative Under reaction following its earnings release placing the stock in drift D
If you would like to see the Drift for another stock please message us. Also click on the Like Button if this was useful and follow us or join us.
another rejectionwhy would Amgen breakout here? Well, maybe it won't, and the goons pumping it on national television are taking the other side as it approaches a perennial resistance ceiling...or maybe the assumption of it's inclusion in the XLV weighted at 3.4% is enough for fund flows to push it over $260.
With COVID raging in the prior December quarter, they could miss on earnings, and give strong guidance going forward, but at 21x, looks baked in. And this thing could get swept up in a market decline.
Buy $AMGN - NRPicks Feb 14Amgen is a leader in biotechnology-based human therapeutics, with historical expertise in supportive care products for kidney disease and cancer. Flagship drugs include the red blood cell stimulators Epogen and Aranesp, the immune system stimulants Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases.
Amgen is one of the best positioned in the pharmaceutical industry. In 2020, the company generated higher earnings than in 2019, due to its strong product pipeline. Financially speaking, the company maintains controlled debt levels that it will be able to meet without any problems.
Fundamentals:
- Value
- 8.8% estimated net earnings growth over the next 3 years.
- P/E 19x vs. 29.6x industry P/E
Technicals:
- Price level cross MA 200 - 50
- Williams R% at -91% levels
- RSI (41) Neutral
- -2.8% average upside during the month
On January 28th there was a market correction, which also affected Amgen. Although the correction lasted a couple of days, the share price continued to fall until $232.10. From this point, the stock recovered 2.5% and remains at these levels; however, the recovery channel should continue as there are no clear retracement fundamentals. In terms of technical factors, we can see that the SMA and Williams R% favor a buy decision.
Amgen might move down soon according to the RSI....I have changed up how to best display projected movement. In the case of AMGN triggered a SELL on my RSI algorithm on March 19, 2021. Equities nearly always obey the signal and move down, but sometimes it may continue to move up first.
I have placed two red boxes and two green boxes on the chart. The larger red box depicts all of the historical movement, from a percentage standpoint, that this stock has moved on the Daily chart after a SELL signal occurred. Therefore, this box represents 100% of previous movement upward before the stock finally moved downward. The smaller red box represents 50% of all historical movement upward, before the stock moved downward. The smaller box is more of a precise target for the potential top in this instance.
The green boxes represent the same thing. In this instance, the smaller green box would be my projected target for the final bottom.
The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement.
As always, the stock could decline the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never decline (and the green boxes may never come into play).
All statistics and the full analysis are available for free as always at the site below.
$AMGN with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $AMGN after a negative Over reaction following its earnings release placing the stock in Drift C
If you would like to see the Drift for another stock please message us. Also click on the Like Button if this was useful and follow us or join us.
Amgen: Ready for Take-Off? 🚀As we have predicted, the Amgen stock has decreased and entered the green box between $242.09 - $223.78. From here, we expect the stock to jump over $276.69. For this primary scenario, we have calculated a probability of 68%. In order not to endanger this scenario, the price needs to stay above $218.97. Below that mark, there is a 32% chance of a further drop all the way down to an area around $187.02.
Happy trading!
