An overly beaten-down company. This is still a good company with solid products. I am not ready to sign on for the long haul yet but expect that in the short run ( 6 months or so) one can get a nice profit here. When legal issues are resolved I would look for a long term buy here.
AMGN closed at $58.47 today.
On a purely Technical Analysis AMGN has just cracked its 50DMA after dropping through the 20DMA just a week ago. Its now headed to meet its 200DMA at around $54, maybe lower to cover the gap created back in July. There is some support around $57.50 where the stock based in July.
On the weekly chart AMGN just closed under its 200WMA. The weekly 20WMA and 50WMA have just converged on $54.54 with previous support at the $51 level.
AMGN closed at $58.47 today.
On a purely Technical Analysis AMGN has just cracked its 50DMA after dropping through the 20DMA just a week ago. Its now headed to meet its 200DMA at around $54, maybe lower to cover the gap created back in July. There is some support around $57.50 where the stock based in July.
On the weekly chart AMGN just closed under its 200WMA. The weekly 20WMA and 50WMA have just converged on $54.54 with previous support at the $51 level.
An overly beaten-down company. This is still a good company with solid products. I am not ready to sign on for the long haul yet but expect that in the short run ( 6 months or so) one can get a nice profit here. When legal issues are resolved I would look for a long term buy here.
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On a purely Technical Analysis AMGN has just cracked its 50DMA after dropping through the 20DMA just a week ago. Its now headed to meet its 200DMA at around $54, maybe lower to cover the gap created back in July. There is some support around $57.50 where the stock based in July.
On the weekly chart AMGN just closed under its 200WMA. The weekly 20WMA and 50WMA have just converged on $54.54 with previous support at the $51 level.
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