Amgen’s Stochastic Issues Buy Signal

by Sam Collins | April 3, 2012 1:31 am

Amgen (NASDAQ:AMGN[1]) — This independent biotech company has been a leader in the development of genetically based research and treatment for cancer, anemia, rheumatoid arthritis, and a host of other major illnesses. It markets five of the world’s best-selling biotech drugs.

The Trade of the Day first recommended[2] AMGN on Dec.19, at $60.25, when it broke from a huge cup-and-handle formation. After topping at close to $70, the stock has been consolidating with support around its 50-day moving average at $68. Note the recent buy signal from the stochastic. The trading target for AMGN is $75.

Earnings for 2012 are estimated at $5.97 and $6.60 for 2013. AMGN has a dividend yield of 2.12%.

Trade of the Day – Amgen (NASDAQ:AMGN)
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Trade of the Day Chart Key

Endnotes:

  1. AMGN: http://studio-5.financialcontent.com/investplace/quote?Symbol=AMGN
  2. first recommended: https://investorplace.com/2011/12/amgen-getting-its-groove-back/

Source URL: https://investorplace.com/2012/04/trade-of-the-day-amgen-nasdaq-amgn-2/