AMGEN Inc AMGN stock looks attractive after a strong rally
AMGEN Inc AMGN american stock looks attractive after a strong rally, waiting for a pullback to weekly demand imbalance around $178 to buy the underlying stock.
We don't need any fundamental analysis on a stock to take a trading decision but if you are interested, Amgen AMGN has been a laggard. Amgen's slump had to do with the stocks slowing growth outlook combined with the ever present headwinds that the healthcare sector faces heading into an election year.However, Amgen could address its growth slump.
That's exactly what management did in August, causing the stock's price to spike. Yet, in the past five weeks Amgen shares have cooled off, giving investors who were previously experiencing fear of missing out the trade, the chance to get into the stock at a discount to recent highs.
Where is the place where those investors can plan to buy AMGEN again? Well, if you look at the attached weekly chart technical analysis, the whole movement started at $178 creating a very strong weekly demand level, that's where we can buy AMGEN inc again.
We don't need any fundamental analysis on a stock to take a trading decision but if you are interested, Amgen AMGN has been a laggard. Amgen's slump had to do with the stocks slowing growth outlook combined with the ever present headwinds that the healthcare sector faces heading into an election year.However, Amgen could address its growth slump.
That's exactly what management did in August, causing the stock's price to spike. Yet, in the past five weeks Amgen shares have cooled off, giving investors who were previously experiencing fear of missing out the trade, the chance to get into the stock at a discount to recent highs.
Where is the place where those investors can plan to buy AMGEN again? Well, if you look at the attached weekly chart technical analysis, the whole movement started at $178 creating a very strong weekly demand level, that's where we can buy AMGEN inc again.