AMGNCL trade ideas
AMGN RESISTANCE ZONE, WAVE 2 RETRACEGood fundamental. At 145.28 resistance zone, seems like a Wave 2 retracement. Waiting for bullish candle/pennant breakout for Wave 3 confirmation, or resistance zone accumulation for a BUY.
AMGN Bell Curve?AMGN has deviated outside the inner channel into extreme ends of what would be considered to be the sides of bell curve. Short but be cautious. 1st PT around 165 if break then 2nd PT around 144.
AMGN "correction"As we can see through price action that price is in correction
price also formed a flag pattern hence confirming the downward move.
strict stop loss at 169.
one should also see for some sport at the support zone which is quite strong.
AmgenDemand zone at former resistance on the daily chart. Which should give this level an extra bounce.
Entry: $163.82
Stop Loss $161.79
Target1: $170
Confirmed harami signal from resistance lineconfirmed sell signal
1st target 165.09
2nd target about 149
stop at 172
Horizontal Horizontal movement this stock looks good for swing and position trades. Or as an option trade straddles and strangles. However one interesting aspect is that the OBV is in a trend upward, precluding an long run trend.
Huge move in AMGN coming. Huge.NASDAQ:AMGN
Diamond top pattern on weekly with negative divergences in both the RSI and MACD indicate downward future direction.
Based on height of overall pattern, pattern target is near $100. Should a break upward occur (not likely based on RSI and MACD), pattern target would be approximately $210. See Bulkowski
High volume nodes and POC labeled.
AMGN - Watch - Potential 10%+ Swing
Potential swing trade developing. Strong bearish price action currently. Look for bullish price action off of support. Favorable risk/reward trade with plenty of room to the upside.
Fundamentally, this is a good stock with solid fundamentals. Although i would exit the trade between $162-164, as far as an investment, I believe valuations should be much closer to $175.
