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AMGN
Jun 19, 2015 9:28:30 GMT -5
Post by novie08 on Jun 19, 2015 9:28:30 GMT -5
Huh, if you have time and are so inclined would you put up a chart for AMGN? This is a stock a brilliant person told me to buy in 2011...did I? Of course not!  It has more than tripled since. Many thanks. |
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Post by huh on Jun 19, 2015 9:46:32 GMT -5
First, the LT monthly chart. Looks like potential to get all the way up ~215. .  In the nearer term, looks like it could be building a possible double-top, but that of course could easily turn out to be only a sideways consolidation. But I'd still use a stop based on that recent low because if it is consolidating for a move higher (and not a double-top), than I'd expect the supports from that low to hold. So from here, ~158.50 should act as support. Upside targets ~163.50 for a gap fill, and final FIB resistance from the previous high is ~168.25. Over that final FIB resistance and it's definitely a play for the long term target. If it were to instead lose 153.50 now, the double-top would likely play out before resuming the uptrend for the long term upside target. That pull back though would take it to ~125, but it would likely go even lower than that.  JMHO |
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Post by huh on Jun 19, 2015 9:52:43 GMT -5
Short term play:
Long for 163.25 and 168.25/supports 158.50 & 157.00
Long term:
If >168.25, target ~215
If <153.50, target ~125.00 (& possibly lower)
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AMGN
Jun 19, 2015 11:18:49 GMT -5
huh likes this
Post by birthmark on Jun 19, 2015 11:18:49 GMT -5
Something to be said for "Buy and Hold"
Wow...
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Post by novie08 on Jun 19, 2015 15:11:07 GMT -5
Something to be said for "Buy and Hold" Wow... Exactly right during this massive bull we've had. Hard to believe it was under $4 twenty years ago! But who knew? Of course, the bots knew...that's why they never lose. |
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AMGN
Jun 19, 2015 17:35:45 GMT -5
Post by novie08 on Jun 19, 2015 17:35:45 GMT -5
Short term play: Long for 163.25 and 168.25/supports 158.50 & 157.00 Long term: If >168.25, target ~215 If <153.50, target ~125.00 (& possibly lower) Thank you so much. |
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Post by huh on Jun 24, 2015 7:41:03 GMT -5
On this recent run-up, AMGN filled the upside gap left from 05/22 and now pulled back a little
This pull back looks like bullish consolidation and should now be a decent long here (~161.70) for a minimum move to 167
Unlikely, but if it were to do a quick drop to ~160.80, that would fill a recent gap up and would be another good buy point
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Post by huh on Jun 24, 2015 10:54:58 GMT -5
Already trading lower than I thought it would, but worst case support on this would be ~158 - that could be the backtest for the pattern targeting 167, but I wouldn't hold it for very long below that
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Post by huh on Jun 26, 2015 11:29:53 GMT -5
Already trading lower than I thought it would, but worst case support on this would be ~158 - that could be the backtest for the pattern targeting 167, but I wouldn't hold it for very long below that AMGN backtested the pattern targeting 167.25 yesterday with that 158.02 low. But not rising as expected. 157.90 should act as support now, if it closes under that, the pattern fails and downside target would become 155. |
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Post by huh on Jul 27, 2015 10:03:53 GMT -5
AMGN fighting for a move to ~168.20's (next and final resistance for a bit)
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AMGN
Jul 27, 2015 10:04:58 GMT -5
huh likes this
Post by novie08 on Jul 27, 2015 10:04:58 GMT -5
On the march, +4% so far.
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Post by huh on Jul 27, 2015 10:05:51 GMT -5
On the march, +4% so far. And looks like it's possibly bull flagging |
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AMGN
Jul 27, 2015 10:08:00 GMT -5
Post by huh on Jul 27, 2015 10:08:00 GMT -5
4th time testing this 165 resistance. I think it'll see 168.20's today. If it could clear that resistance, well, that's a whole other story.
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Post by huh on Jul 27, 2015 10:15:02 GMT -5
Oops! Bots read my posts! lol
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Post by novie08 on Jul 28, 2015 9:32:58 GMT -5
AMGN hit 172...why am I so stubborn? I've been waiting for a correction for well over a year now. |
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Post by huh on Jul 28, 2015 9:38:17 GMT -5
AMGN hit 172...why am I so stubborn? I've been waiting for a correction for well over a year now. The word's not stubborn, it's cautious. And remember the best trades most of us traders will ever do are the ones we don't. I'll keep an eye on it as well. It could backtest ~165, in which case it's a buy. >171.60 now would also be a buy. In both cases upside target is now ~200. |
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Post by jacksrbtr on Jul 28, 2015 11:21:00 GMT -5
AMGN hit 172...why am I so stubborn? I've been waiting for a correction for well over a year now. (Loosely from that military tribunal movie with Jack Nicholson) |
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AMGN
Jul 28, 2015 11:25:25 GMT -5
Post by huh on Jul 28, 2015 11:25:25 GMT -5
Support now 170.80. If it were to somehow lose that, then it would likely see ~165
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Post by huh on Jul 28, 2015 14:39:24 GMT -5
AMGN red flag
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AMGN
Jul 29, 2015 9:07:17 GMT -5
Post by huh on Jul 29, 2015 9:07:17 GMT -5
Small H&S, target 168.70, but I'd be looking for closer to ~165 |
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It has more than tripled since. Many thanks. 
