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Trading Amgen AMGN With Integrated Risk Controls

Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Amgen (NASDAQ: AMGN) report below can help you, but we have more details too. The trading plans for AMGN, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for AMGN
  • NONE. Details
  • There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
    This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

  • Short AMGN slightly under 240.27, target n/a, stop loss @ 240.96 Details
  • The technical summary data is suggesting a short of AMGN as it gets near 240.27, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 240.96. 240.27 is the first level of resistance above 225.4, and by rule, any test of resistance is a short signal. In this case, if resistance 240.27 is being tested, so a short signal would exist.

Swing Trading Plans for AMGN
  • Buy AMGN slightly over 229.65, target 240.27, Stop Loss @ 228.99 Details
  • If 229.65 begins to break higher, the technical summary data tells us to buy AMGN just slightly over 229.65, with an upside target of 240.27. The data also tells us to set a stop loss @ 228.99 in case the stock turns against the trade. 229.65 is the first level of resistance above 225.4, and by rule, any break above resistance is a buy signal. In this case, 229.65, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short AMGN slightly near 229.65, target 224.63, Stop Loss @ 230.31. Details
  • The technical summary data is suggesting a short of AMGN if it tests 229.65 with a downside target of 224.63. We should have a stop loss in place at 230.31 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 229.65, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for AMGN
  • Buy AMGN slightly over 227.11, target 229.65, Stop Loss @ 226.58 Details
  • If 227.11 begins to break higher, the technical summary data tells us to buy AMGN just slightly over 227.11, with an upside target of 229.65. The data also tells us to set a stop loss @ 226.58 in case the stock turns against the trade. 227.11 is the first level of resistance above 225.4, and by rule, any break above resistance is a buy signal. In this case, 227.11, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short AMGN slightly near 227.11, target 224.63, Stop Loss @ 227.64. Details
  • The technical summary data is suggesting a short of AMGN if it tests 227.11 with a downside target of 224.63. We should have a stop loss in place at 227.64 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 227.11, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

AMGN Ratings for September 30:

Term →Near Mid Long
Rating Weak Weak Strong
P1 0 0 240.27
P2 227.11 224.63 253.16
P3 230.44 229.65 266.44
Triggers may have already come
Support and Resistance Plot Chart for AMGN

AMGN Long Term Analysis for September 30 2022

Blue = Current Price
Red= Resistance
Green = Support

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