AMGN looking strong following recent breakout. Like it long on a deeper p/b into the green the box. May require aggressive entry at the top of box as that would be a gap fill. Tighter stop would be a close below the green box. Larger stop for longer term holds would be a close below the 618 Fib. Targets would be recent high and then Fib extensions. Entry requires support from broader market.
Note
The short term trade was stopped out on Dec 20th with close below the box. Long term trade still in play above the 618 Fib. Entry were not ideal due to broad market weakness.
Stock still showing relative strength so re-entry possible on a reclaim of the box.
Note
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.