AMGN trade ideas
Amgen Just Broke Out. Now it’s Bouncing.Biotechnology has quietly moved up the industry rankings in the last month. We recently highlighted the long-term breakout in the iShares Nasdaq Biotechnology ETF and now its biggest holding (8% of assets) has some interesting patterns: Amgen.
AMGN broke out to new highs in late 2019 and crashed along with the rest of the market in March. It then proceeded to make a higher low in June as it found support at its 200-day simple moving average (SMA). This produced a cup-and-handle chart pattern.
The stock had a tight bullish flag above its 50-day SMA in late June, and then ripped to new highs after winning a patent case against Novartis.
AMGN pulled back last week. It formed a hammer candlestick on Friday and is now bouncing at its 8-day exponential moving average (EMA). That line can serve as a potential risk-management area.
There are two reasons why it may not dip a lot more. First, AMGN hasn’t run much yet versus its December highs. So, there may not be many profit-takers yet. Second, the relative strength in IBB following its recent breakout could provide tailwinds.
AMGN reports earnings after the closing bell on July 28.
Bull Flag?Possible Bull flag after sharp pull back
Hypothetical targets are 270 285 295
Not recommending the stock!
Go with your gut
Based off past years of performanceThis seems to be a good stock to hold for the long term. It has high dividends and pretty stable growth. As of now, it is in my watchlist as I am hoping for a lower point to buy-in $(220-230) range but more likely $230 as I do not want to miss this stock.
$AMGN Amgen Breakout Target $280
Huge breakout today which stalled at Fibonacci extension targets
May get a slight pullback but long term target is in the $280 zone
BUY To AMGENHello traders, AMGEN is on a bullish slant, large volume of sales made in recent days. it can break the trend line and the consolidation zone.
Please LIKE & FOLLOW, thank you!
Inverse Head & ShouldersFirst time on putting an idea on here..so please bear with me (o:
Entry: 235
Stop: Below 224
Target 1: 270 to 279
Target 2: 307 to 327
Good luck!
Steady growth and good dividendndsSeem to have a good track record, especially by increasing dividends annually makes me interested in buying in once/ if it hits 200
AMGN Setting to Try 52 Week High AgainAfter a price rejection yet again at the 52 week high at the $243.60 range in May, we see a sell off and now the price is being supported at $219.40. It could also be shorts covering that is forming the consolidation. Stock is also oversold, according to the Stoch RSI. This could be a good entry point to go long and test the 52 week resistance again.
AMGNBased on my analysis:
1. AMGN formed a double bottom (May 20-26).
2. Breakout the neckline with a high volume.
3. Stochastic shows an upward price bias.
4. Traders are advised to take profit at the price level of (1) 231.60 USD or (2) 234-236 USD
Syeikh Hafiz
Stock Market Analyst
$AMGN - High risk high reward$AMGN
Massive inverse head and shoulders if you look at the bigger picture.
Monster of a biotech company so would consider this a high risk, high reward play especially with options.
Its been beaten down after multiple attempts of breaking out.
Play it safe:
Buy after 244 (confirm IHS breakout) & stop loss @ 240
Take on risk:
Limit buy: $237
Limit sell: 260
Stop loss: $224
AMGNHeikin Ashi Candlesticks - not yet a green week, but encouraging long tail.
2 std dev. regression channel
Look at this if you are looking for a good SHORT opportunity!Classic DOUBLE TOP pattern!
No need to explain!
AMGN Long based on earnings and technicalsAMGN just beat earning and has strong technical, so I will be going long with a price target of 242.
AMGEN INC (AMGN), AMAZING LEVELS!!!Look at these Levels and how it works!
If we just use such places for trading you don't need to make a lot of trades per month.
I will post more such ideas with stock instruments if this post will get a lot of likes.
Before to trade my ideas make your own analysis.
Thanks for your support!
Is it a good time to short Amgen?Amgen has been cosonlidated in this bulish trend for more than two years. The author observed that the buyers were struggling to prop it up even more to a further breakout. AMGN is likely to fall onto the psychologcal line of 210 and a furthr space down to 200.
