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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: horsegirl48 who wrote (8096)4/22/2005 10:07:01 AM
From: Walkingshadow  Read Replies (1) of 8752
 
Long-term chart shows AMGN in a sideways trend, stabilizing at long-term chart and moving average support:

stockcharts.com[w,a]waclyyay[df][pb50!b200][vc60]&pref=G

Short-term, I see little good news in AMGN's chart:

139.142.147.218

Sell signals from overbought territory.

I would not be looking for a long entry in AMGN if I were you.

Wait until it gets oversold, that's my suggestion. Then re-evaluate AMGN with a particular eye towards support levels, and whether those hold up.

The first place I would consider a long position in AMGN is the lower BB rail. That's also gap support. If that fails to hold, then that does not bode well for AMGN's medium-term prospects.

T
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