Top Stock to Buy #1 – Amgen (AMGN)
Biotech company Amgen (NASDAQ:AMGN) 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.
Earnings estimates for 2012 have been raised to $6.59, and $6.99 for 2013. AMGN has a dividend yield of 2.2% and is recognized as a company with a very high cash position, giving it the flexibility for acquisition and further drug developments.
The stock is trading in a bullish consolidation channel with resistance at $92 and support at $84.The trading target for AMGN is $94, but it is also recommended as a long-term investment.