$AMGN (Amgen Inc) – Biotech bull flag setup

Start trading
Updated: 21 May 2020

$AMGN (Amgen Inc) is a biotech name that setting up a bull flag and is at the bottom of the short term channel. Its been relatively weaker than the sector but it may find some buyers in the 225 226 area. Yesterday was the first day to show some buyers so watching it closely for a bounce trade. Consider the bottom of the flag and the 50% as support for the trade. You can take double bottom if you see reaction in the sector and in the 30min charts.

For more ideas, market videos and analytics, sign up to our premium room https://www.asktraders.com/stocks-live/

Remember: These are not trade recommendation to buy or sell securities. Always do your own due diligence and trade at your own risk.

Never risk more than 1% of equity per trade.

Happy Trading!