CFD Trading – Sell Amgen Inc.(AMGN.NAS) @ $227.90. Stop @ $238.10 and Target @ $207.10

Amgen Inc. Stock Code AMGN.NAS

Price reached a high of $274.65 on 28 January 2021 and since that high, price has been on a decline. Last Thursday, price broke below the cloud as well as an uptrend channel that was in place since 29 January 2021. This could be a sign that the uptrend could be over and a downtrend could be starting. Conversion and Base lines had a bearish crossover earlier, hinting of a bearish price trend ahead. Lagging Span is below price of 26 days ago and is below the cloud at the moment, confirming the bearish price trend.  MACD is bearish and is moving down and away from the zero line, hinting of a bearish price trend. We see price testing the previous low of $207.30 again.

$227.90              Sell
$207.40              Price Target
$238.10              Risk Management Stop
3 weeks              Trade Duration

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