$AMPH is building a nice pivot area!

NASDAQ:AMPH   Amphastar Pharmaceuticals, Inc
* Strong up trend since late 2021
* Great earnings track record
* Building a base for the past ~4 months
* Building a pivot area around $37.8 for the past three weeks
* Bounced off of the 50 day line with higher than average volume
* Has been using the 50 day line as a dynamic level of support for the past month or so

Sector: Healthcare - Drug Manufacturers - Specialty & Generic
Relative Strength vs. Sector: 3.28
Relative Strength vs. SP500: 7.72
U/D Ratio: 1.5
Base Depth: 49.24%
Distance from breakout buy point: -17.32%
Volume 20.79% above its 15 day avg .

Trade Idea:
* You can enter now as the price is just bouncing off of its 50 day line
* If you want a better entry you can look for one around the $36 area as that seems to be acting as a pivot also
* If you want a safer entry you should wait for a clear break and hold above the $37.8 resistance area

* This stock usually has local tops when the price closes around 23.22% above its 50 EMA
* Consider selling into strength if the price closes 23.02% to 23.42% (or higher) above its 50 EMA
* The last closing price is 3.03% away from its 50 EMA


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