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Amgen is a Bio-pharma company based out of California. It is one of the world’s largest independent biotech companies specializing in arthritis, autoimmune medication, and chemotherapy-related medicines. It ranks 123 on the Fortune 500 list and has great potential given the rising importance of healthcare.
The 20-year monthly chart of Amgen shows the stock has been in a long-term up-trend. There are two broad movements within this up-trend, a wider movement marked in Yellow and a tighter movement marked with dotted light blue lines
The stock fell about 18% during January and February of 2020. Since then, it has reversed by 9%. In April, the stock crossed two points. First, it bounced up from the inner long-term trend line, as shown in light blue. Second, it also bounced up from a 7-month resistance level, shown using a red-dotted line.
The current price is good for a long position. Positions taken at $217.38 with Stop Loss 17% below at $179.04. Short-term investors target price at $245, giving a 13% profit.
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.
If you are interested in purchasing the above stock please click here to view some trading platforms.
Information is provided ‘as-is’ and solely for informational purposes. Data provided mostly by way of video and images are of actions that have already taken place. and are not for trading purposes or advice.
Stock Prices End-of-Day. Information is provided solely for informational purposes, not for trading purposes or advice, and is delayed.
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