AMGN LONG IdeaOur strategy is a confidential mix of TA and FA. It is to be noted that this trade is a bullish setup from both TA & FA setups independently.
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AMGN trade ideas
$AMGN observationThis is just my observation, not advice.
Technical:
1. Price touched the 200 SMA.
2. Price is corrected to 50% correction and slightly pumped after reaching the supportive zone.
3. Price reached the volume price of FRVP around 270$.
4. The correction nature of the latest candles in the blue box is obvious.
5. In the daily and 4H charts, the stock is almost in the oversold zone.
6. A significant divergence is observable on the daily chart.
Fundamental:
1. P/E ratio: 34.4x (Not undervalued)
2. In November 2024, Amgen's Phase 2 study of MariTide showed a 20% average weight loss over 52 weeks in obese patients without diabetes. While promising, it fell short of analysts' 23–25% expectations, raising concerns about its competitiveness against treatments like Eli Lilly's Zepbound and Novo Nordisk's Wegovy.
3. On November 26th, after MariTide phase 2 announcement, the price was mixed but could be considered to have moved up impulsively.
4. On 5th December, Amgen announced to invest 1B for expansion.
5. NASDAQ:AMGN launched Pavblu as a rival of NASDAQ:REGN 's Eylea.
6. On December 7th, NASDAQ:AMGN out significant result for Blinatumomab.
7. Based on reports, NASDAQ:AMGN raises quarterly dividend 5.8%.
8. Analyst sentiments: 14 buy, 15 hold, 3 sell.
Scenarios:
We are in the correction with two main scenarios:
1. ABC correction has been completed and impulsive waves have been started so we should look for entry.
2. A correction wave has been completed, and we are now in the B wave correction. In this case, we should see another price drop on wave C. After then, we can look for long on around 78% correction and trendline.
$AMGN Wholesale PriceWholesale Pricing: The wholesale area ranges from $157 to $288.
Retail Pricing: The retail area ranges from $308 to $388.
52-Week Price Range: The stock has fluctuated between $257.80 and $346.85 over the past year.
Strategy: Consider purchasing at wholesale prices and selling at retail prices for potential profit. NASDAQ:AMGN
RestartingThird competitor of obesity race is getting ready
Price reached weekly sma100 and touched bottom of green channel up
AMGNThe analysis of the stock you mentioned (AMGN) Daily Frame
suggests the presence of a rising wedge pattern, indicating a potential price correction after a false breakout. Here’s a breakdown of the points mentioned:
Rising Wedge Pattern: This type of pattern typically appears in bullish markets, but it can turn into a bearish reversal if the lower boundary of the wedge is broken.
False Breakout: A false breakout occurs when the stock briefly exceeds the upper boundary of the pattern but fails to sustain the upward momentum, leading to a price correction. If the lower boundary of the wedge is confirmed to be broken, this could signal the beginning of a downtrend.
Breaking the Rising Wedge: A confirmed break of the wedge suggests that the upward trend is over or may be in the process of reversing into a downward trend.
Sell from the Next Session: Based on this technical analysis, the plan is to enter a short position (sell) with a stop loss if the price rises above $338.5, which is identified as the upper resistance level.
Price Target: The suggested support levels where the stock could potentially drop to are between $213.64 and $203.
AMGN Target Sept highs to close the yearBullish on NASDAQ:AMGN post election. Trade was entered yesterday following the FOMC as structure has broken bullish.
September lows swept pre-election and healthcare industry will be bullish after Trump election. Targeting September highs going into the end of the year.
$AMGN Triggered Lows NASDAQ:AMGN has alerted for a potential move lower. Target is set for 313.49. Will need some volume or wind from the market for this move.
Amgen: False Breakdown and Uptrend?Amgen has been fighting higher this year, and some traders may think a longer-term uptrend is in place.
The first pattern on today’s chart is the move under $310 after mixed quarterly results. The drugmaker quickly recovered as Wall Street focused on its pipeline. The resulting drop and rebound could be viewed as a “false breakdown,” which is potentially bullish.
Next is the price zone between the closing highs of February and June. AMGN has stayed above that area for almost two weeks. Has old resistance become new support?
It’s also holding the rising 50-day simple moving average. That could reflect a bullish intermediate-term trend.
Finally, Wilder’s Relative Strength Index (RSI) just crossed above its 14-day average. Similar crossovers have preceded moves in both directions. (See arrows.)
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Long OP Motivation
Bear candle is rejected.
Company outlook is bullish.
Price/earning spiral looks to establish.
AMGN - Increased Probability of AppreciationAMGN has the support of Fiboclouds indicating an increased probability of appreciation at least until the first target. The second target should be tested, provided the stop loss is properly repositioned at the time of the first partial realization.
If this projection is confirmed and a partial realization occurs at the first target, the stop loss should be moved from its initial position to the same line where the position was opened.
This way, the journey towards the final target will proceed with reduced risk of losses and the preservation of the partial gains achieved so far.
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AMGN breaking above supply and fib levelThis good be a good risk vs reward. This stock has been acting nice breaking above recent highs and fib level. Also its sector seems to be for now breaking out.
Buyback Patterns for Swing TradingNASDAQ:AMGN shows a buyback run followed by a sell day that was instigated by market makers as buyers quickly disappeared. Remember that corporate buybacks are done by bank floor traders to add stock to their inventory so they won't take profits at the peak of the run; those are other market participants, such as market makers.
NYSE:KO is another example of a buyback run and how price moves back down after the professionals conclude their buybacks. The buybacks were announced in May this year so this stock has just started its share repurchase program.
AMGN Puts 290 Strike August 16th Expiration.I believe "AMGN" will get to around 217.7ish and then dip. From a technical viewpoint I believe its showing a "head and shoulders top" based on a chart that looks back since August of 2023. I am a rookie and don't know if this is true but am basing it on that. From a fundamental viewpoint I believe the stocks rise is all a bunch of garbage. The market is bullish over the weight-loss market and are rushing into any idea in biotech that may work. Its tempting to do this because of how Eli Lilly has been historically strong, while everything else in its sector is basically garbage. My stop loss would be at above 322ish and my profits would start being taken under 300. They report earnings in week of August 1 to August 5.
Detail of Potential Trade
Enter Target: 317.7
Strike: 290
Expiration: AUG 16th
Current Premium as of Publish: 4.2
Amgen's MariTide Shakes Up Weight Loss Drug MarketThe weight loss drug market, projected to hit $100 billion by the decade's end, is undergoing significant innovation. Amidst dominant players like Novo Nordisk and Eli Lilly, Amgen is emerging with MariTide, a potentially game-changing drug set to disrupt the industry. MariTide's extended-release formula promises reduced dosing frequency and sustained weight loss, potentially outperforming current medications. Amgen's advantage lies in its robust manufacturing infrastructure, enabling efficient scaling compared to smaller competitors. However, the field is crowded, with Novo Nordisk and Eli Lilly developing next-gen drugs, while Boehringer Ingelheim and others introduce new contenders. Smaller biotechs like Viking Therapeutics and Altimmune are also advancing innovative solutions. This competitive landscape promises diverse and effective weight management options for patients. The future looks bright, with Amgen positioned as a strong buy in this evolving market.
AMGN Rises as CEO Celebrates Growth in Experimental Obesity DrugAmgen Inc.'s shares ( NASDAQ:AMGN ) rose by 15.9% when the market opened on Friday, marking its biggest intraday rise since July 2009. The company has emerged as a potential competitor to Eli Lilly & Co. and Novo Nordisk A/S, which currently dominate the weight-loss market. Demand for anti-obesity drugs like Zepbound and Wegovy is so strong that Intelligence's estimate for $80 billion in annual sales by 2030 looks conservative. William Blair analyst Matt Phipps sees MariTide as having multi-blockbuster potential, boosting his rating on Amgen stock to outperform.
Shares of Denmark's Novo Nordisk fell as much as 5.3% after the Amgen CEO's comments. Optimism over towering sales of its Wegovy and Ozempic drugs have pushed Novo's market value above $500 billion, reinforcing its position as Europe's most valuable listed company. The stock has more than quadrupled since the start of 2020.
MariTide has excited investors because it's taken less frequently than the top-selling treatments from Novo and Lilly. Patients given a monthly injection of the drug lost up to 14.5% of their body weight in 12 weeks, according to a small early-stage study published in February in the journal Nature Metabolism. Some people kept weight off for up to 150 days after stopping the drug, the findings showed.
Amgen ( NASDAQ:AMGN ) is already investing in building out production capacity for MariTide, even though it's still in mid-stage studies and hasn't been submitted for regulatory approval. Amgen is planning late-stage studies in obesity, obesity-related conditions, and diabetes, likely delivered in a handheld autoinjector used monthly. Amgen will focus on MariTide and discontinue developing another earlier-stage drug called AMG 786.
AMGN potential buy setupReasons for bullish bias:
- Price bounced from support
- Weekly bullish candle closing at support
- 0.5 fib retracement
Entry Level (CMP): 278.40
Stop Loss Level: 264.03
Take Profit Level 1: 292.77
Take Profit Level 2: 307.14
Take Profit Level 3: Open
AMGN potential buy setupReasons for bullish bias:
- Price bounced from strong support along with 0.382 fib retracement
- Price respected trendline
- Strong bullish candles
Entry Level(CMP): 291.29
Stop Loss Level: 279.64
Take Profit Level 1: 302.94
Take Profit Level 2: Open
Can Amgen(NASD:AMGN) shares go significantly higher?The Minichart Trendline indicator has determined that the share price of Amgen Inc. has just broken its downtrend and is likely to recover from here.
This indicator developed by Minichart can detect stocks that change their trend, either from an uptrend to a downtrend or vice versa. It is plotted automatically.
First of all, Amgen Inc. stock price reached a short-term support 2 days ago when it hit the 38.2% Fibonacci support of a strong uptrend. The uptrend of the stock price started on 1 June 2023, and lasted for 7 months.
The strong uptrend has also formed a bullish head and shoulders (H&S) formation on the Minichart. From a technical analysis perspective, the recent pullback is a salutary correction after the price broke out of the H&S formation. Over time, the price will probably continue to rise and break above the high reached on February 5.
In addition, there are 3 other reasons why the price may have reached a good support and could rise again from here.
The price has reached the exponential moving average of 100. This is a strong support level.
The Minichart Heikin Ashi indicator has changed colour. It is now bullish.
The Stochastic indicator is oversold and starting to turn upwards.
Amgen Inc. Price Target
Next, we will use the Fibonacci retracement to find the immediate price target when the price starts to recover.
Using the Minichart Fibonacci retracement measurement from February 5 to 20, the first price target is $299, followed by $305. This is based on the 38.2% to 50% Fibonacci retracement levels. These levels coincided with resistance points during the sideways consolidation (green arrow on the chart).
If traders were to buy the stock based on Friday’s close of $289.18, they could potentially realise a decent return of 3.5% to 5.5%. This is based on the $299 to $305 Minichart price target mentioned above.
Of course, this is a short-term price target that can be reached within the next few weeks. Should the share price break through the high reached on February 5, the new price target will be significantly higher.
LONG IDEA After a major uptrend the stock almost starts to finish its correction wave and showed some postivity , we can start buy after the price to settle above its last peak at 298
TP 1 : 304
TP 2 :309
TP 3 : 314
TP 4 : 320
SL > 288
GOOD LUCK
Diminishing volume indicates that no supply is present.Decreasing volume with the tighter and smaller candles indicates that supply is not present at this price level.
This is not a recommendation.
AMGN Amgen Options Ahead of EarningsIf you haven`t sold AMGN ahead of the HZNP buyout:
Then analyzing the options chain and the chart patterns of AMGN Amgen prior to the earnings report this week,
I would consider purchasing the $322.5 strike price Calls with
an expiration date of 2024-2-9,
for a premium of approximately $6.60.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Amgen Poised for Continued Upside## Amgen Poised for Continued Upside
Amgen Inc. (AMGN) appears poised for continued upside based on technical indicators. The current price of $324.56 is above the 50-day and 200-day simple moving averages, indicating an upward trend.
Key technical indicators also suggest further upside:
- Relative Strength Index (RSI) of 66 indicates AMGN is not overbought and has room to run
- Moving Average Convergence Divergence (MACD) line recently crossed above the signal line in a bullish sign
- Bollinger Bands widening suggests building upside momentum
I am initiating a buy on AMGN with an entry point of $330.95. This allows some room above the current price for confirmation of the uptrend. Profit targets are set at $340.79, while a stop loss of $321.36 limits downside risk.
The positive technical outlook combined with strong fundamentals makes AMGN a compelling buy at current levels for continued price appreciation. I will look to take profits as the price approaches overbought levels near the upper Bollinger Band. Managing risk with the defined stop loss is also key to success of this long setup.
Citations:
www.investing.com
www.chartmill.com
www.macroaxis.com
www.tipranks.com
financhill.com
🔬💊 Amgen Innovations & Strategic Moves 🚀🌟 Lumakras Breakthrough:
Amgen (AMGN) pioneers cancer treatment with Lumakras, the first medication targeting a mutation found in approximately 13% of lung cancer patients.
💰 Strategic Acquisition:
Amgen acquires Horizon Therapeutics for a substantial $28 billion in cash.
Incorporates Tepezza, an FDA-approved medicine for thyroid eye disease, into Amgen's product portfolio.
📈 Market Outlook:
Bullish stance on AMGN suggests support levels above $260.00-$265.00.
Anticipated upside target in the range of $360.00-$365.00.
Exciting developments in biotech and strategic expansion for Amgen! 🌐💉
#AmgenInnovation #Biotech #StockMarket 📰📊
