4-22 Could It Be? Is this where we carve out a double bottom? If so then IBB (longside) MAY be carving out a double top. Remember, going long this is gaining short exposure in the bios. BIIB (Biogen) reports so be aware it could have an impact on this issue. Chart wise its all about an upside crossover of the green line. Feel free to follow on TWTR...
4-1 Nice looking ABC to multiple supports. As long as this issue stays above the blue and green support lines all is well. This level also happens to be near the 50 day SMA. If you like these kind of chart set ups don't forget to follow me here or on TWTR at @AmazingPatterns For educational and informational use only, these are not recomendations , trade...
Although overall long-term trend still bullish, AMGN currently in a short-term downward trend. Looking to revert to upward trend in the next couple of months. Based on: 1. Falling wedge formation, bullish (continuation pattern) of uptrend 2. Indicators (RSI) in oversold territory and looking for breakout 3. Support around 140-145.
150/149 weekly bull put spread. I would not even look at spread unless we close below 154 on the hourly. The only way I would unravel spread is if we open, gap below 151.61 which is also line in the sand. .06 limit expiring this week .Analysis on 1/28/15 WW
There will be many of you who continue to hold onto biotech chasing even more gains refusing to believe the run is over. In the words of the great Oscar Gamble, "They don't think it be like it is, but it do." All great runs come to an end. The time to go short is at hand.
A few days ago AMGN was on our Gap and Go watchlist. It is now time to manage this trade and lock in profit.
10-30 For those interested in buying support, especially know considering how short term extended things are these days. Its all about the blue line. It also helps define ones entry risk here. If buying here you are buying 20 points away from a support zone (thanks anyway I say). Given this issue is tagging a trend channel resistance zone? That is all the more...
Long Sentiment: Volatile trend Buying strong momentum
Amgen doubled up its price since 2012 after it resolved wedge. Monthly and weekly charts looks very bullish with outside candles. In this strong tape I am watching for strong stocks wich are in uptrend across all time frames. Stock topped at $128 and after it broke down its intermidiate uptrend line then it accelerated to downside, dropped 200 EMA but found...