How the price action of Amgen ($AMGN) is used to our Advantage

September 13, 2023, 14:30 pm ET, BY Scott B.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for AMGN

• Buy AMGN slightly over 257.93 target n/a stop loss @ 257.19. Details

The technical summary data tells us to buy AMGN near 257.93, 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 257.19 to protect against excessive loss in case the stock begins to move against the trade. 257.93 is the first level of support below 259.21, and by rule, any test of support is a buy signal. In this case, if support 257.93 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 259.80, target n/a, Stop Loss @ 259.05 Details

If 259.80 begins to break higher, the technical summary data tells us to buy AMGN just slightly over 259.80, with an upside target of n/a. The data also tells us to set a stop loss @ 259.05 in case the stock turns against the trade. 259.80 is the first level of resistance above 259.21, and by rule, any break above resistance is a buy signal. In this case, 259.80, 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 259.80, target 257.93, Stop Loss @ 260.55. Details

The technical summary data is suggesting a short of AMGN if it tests 259.80 with a downside target of 257.93. We should have a stop loss in place at 260.55 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, 259.80, 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 259.80, target 263.08, Stop Loss @ 259.19 Details

If 259.80 begins to break higher, the technical summary data tells us to buy AMGN just slightly over 259.80, with an upside target of 263.08. The data also tells us to set a stop loss @ 259.19 in case the stock turns against the trade. 259.80 is the first level of resistance above 259.21, and by rule, any break above resistance is a buy signal. In this case, 259.80, 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 259.80, target 257.93, Stop Loss @ 260.41. Details

The technical summary data is suggesting a short of AMGN if it tests 259.80 with a downside target of 257.93. We should have a stop loss in place at 260.41 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, 259.80, 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 (AMGN) available here: AMGN.

AMGN Ratings for September 13:

Term →	Near	Mid	Long
Rating	Strong	Neutral	Neutral
P1	0	0	211.89
P2	256.12	252.86	234.46
P3	263.08	259.80	257.93

AI Generated Signals for AMGN

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Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Amgen (NASDAQ: AMGN) data table below can help you with price action, and we have more details too. Trading plans for AMGN are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.