When (AMGN) Moves Investors should Listen

February 05, 2024, 23:50 pm ET, BY Momei- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for AMGN

• Buy AMGN slightly over 313.56 target n/a stop loss @ 312.65. Details

The technical summary data tells us to buy AMGN near 313.56, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 312.65 to protect against excessive loss in case the stock begins to move against the trade. 313.56 is the first level of support below 321.97, and by rule, any test of support is a buy signal. In this case, if support 313.56 is being tested, a buy signal would exist.

• NONE . Details

NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

Swing Trading Plans for AMGN

• Buy AMGN slightly over 325.09, target n/a, Stop Loss @ 324.15 Details

If 325.09 begins to break higher, the technical summary data tells us to buy AMGN just slightly over 325.09, with an upside target of n/a. The data also tells us to set a stop loss @ 324.15 in case the stock turns against the trade. 325.09 is the first level of resistance above 321.97, and by rule, any break above resistance is a buy signal. In this case, 325.09, 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 325.09, target 318.5, Stop Loss @ 326.03. Details

The technical summary data is suggesting a short of AMGN if it tests 325.09 with a downside target of 318.5. We should have a stop loss in place at 326.03 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, 325.09, 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 322.67, target 325.09, Stop Loss @ 321.92 Details

If 322.67 begins to break higher, the technical summary data tells us to buy AMGN just slightly over 322.67, with an upside target of 325.09. The data also tells us to set a stop loss @ 321.92 in case the stock turns against the trade. 322.67 is the first level of resistance above 321.97, and by rule, any break above resistance is a buy signal. In this case, 322.67, 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 322.67, target 318.5, Stop Loss @ 323.42. Details

The technical summary data is suggesting a short of AMGN if it tests 322.67 with a downside target of 318.5. We should have a stop loss in place at 323.42 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, 322.67, 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.

Check the time stamp on this data. Updated AI-Generated Signals for  Amgen Inc. (AMGN) available here: AMGN.

AMGN Ratings for February 05:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	273.36
P2	322.67	318.5	293.46
P3	327.68	325.09	313.56

AI Generated Signals for AMGN

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