EquityCast

Amgen is Forming a Cup & Handle

Largo
EquityCast Actualizado   
NASDAQ:AMGN   Amgen Inc.
Keep Amgen on your radar. It has formed a rather large cup and I've measured the conservative parameters for the cup height.

Conservative price target: 280

No position yet but I'll be watching the daily candles and volume to snipe the entry when it reverses.

Stay tuned!
Comentarios:
*Conservative price target: 280USD
Comentarios:
No position yet. Indecisive price action. Good hammer candle on Friday but could be setting up a bear flag with the large red candle from Thursday as the flag pole.

Patiently waiting.
Operación activa:
Long @ 239! 1/2 position. Just at the 50DMA
Comentarios:
Operación cerrada manualmente:
Sold at break-even end of day. A close below the 50DMA and low of the day is not bullish. Will look for potential re-entry post-earnings if it can reverse and close above the 50DMA.

Earnings are here as well adding another layer of risk.

Better to be cautious and miss a trade then be wrong and pay dearly for it on a potential gap down should it miss. No gambling.
Operación activa:
Re-bought 1/2 position @ 236 just now!
Operación activa:
Sold half @ 240.15 so 1/4 of max remaining.
Comentarios:
Rebought 1/4 position @ 233

Holding 1/2 position @ 234.5
Comentarios:
Added 1/2 @ 230.

Max position! 232.25 Avg
Comentarios:
Added 230 ATM puts on the whole position to hedge. Close below 230 opens up the door for low 220s (potentially).
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