Tag: AMGEN Inc

Amgen Inc. Stock Code AMGN.NAS

Outlook
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.

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

Amgen Inc. Stock Code AMGN.NAS

Outlook
Price moved above the cloud on 7 January 2021 and managed to climb to a high of $274.65. Since that high, price has been on a decline and had reached a low of $229.69. The price correction has stayed above the cloud, keeping the uptrend intact. Base line is moving higher, hinting of a bullish price trend ahead. Lagging Span is above price of 26 days ago and is above the cloud at the moment, confirming the bullish price trend.  MACD is bullish and the fast line is turning up from the zero line, hinting of a bullish price trend. If price does not break below the downtrend channel, we see price testing the upside of $258 again.

Strategy                  
$235.70              Buy
$257.70              Price Target
$228.70              Risk Management Stop
3 weeks              Trade Duration