On this chart the price is in a clear rising channel: lower band is acting as support and upper band is acting as resistance. At this time the price is going down, but it's still in the mid of the range. So the best thing to do is to wait for the price to hit the support in order to enter a long position.
Target/take profit is displayed on the chart (295,87)
Interesting compare to the crash off in money supply velocity to Amgen’s delayed bull run
Maybe something to do with their business model.
Also compares to money supply and seems to correlate with increase in money supply dollars finding their new homes as we can see as the money supply velocity drops off drastically.
AMGEN Inc AMGN american stock looks attractive after a strong rally, waiting for a pullback to weekly demand imbalance around $178 to buy the underlying stock.
We don't need any fundamental analysis on a stock to take a trading decision but if you are interested, Amgen AMGN has been a laggard. Amgen's slump had to do with the stocks slowing growth outlook...
On a graphical level, a bullish divergence has formed between the price and the Commodity Channel Index (CCI). A close above the black trendline will give the entry signal (long) on Amgen.
First target area $ 179.65/182.47, while the stop loss below the last low ($ 168.44). I leave you free to decide the level on the basis of your money management.
