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.
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.
