AMGN trade ideas
Ready for the next phase up??This will not rocket up, but for the long term investor or someone who likes to buy leaps this is your stock.. As Trump would say, "This is a Huuuge wedge" that got squeezed. This is the weekly chart and I like it!. Lets wait for confirmation like maybe a tiny red candle pull pack or trade sideways for a few days.
Amgen: have a break?Amgen is a good performer the latest weeks. We see that indicators (Elliot Wave Oscillator, not given in this chart) give us positive and negative signs. First of all the power of the bounce becomes weaker. On the other hand there still is a gap and Amgen is trying to fill this. If Amgen breaks the declining blue line, the power of the uptrend increases. Above the 180 dollar level, the next target is attacking the 194. But first, let's see where the bulls arrive... I'm in at a price of 160 dollar
Monthly MACD turning UP.Last 7 quarters, it was a beat.
Looks like time is ripe for new range into 180~200.
Looking good before earnings.Closing above 164 is a good retrace of 62%.
If Earnings call on Cholestrol drug reports promising future, we should see back to 180s soon.
Long/Mid/Short nicely reset the oscillators after the last month crash.
