AI
Wednesday, December 27, 2017 12:40:23 PM
Head And Shoulder Pattern Formation On Amgen, Inc.
Shares of Amgen, Inc. (NASDAQ:AMGN) have almost formed head and shoulder pattern. For those of you that do not know, a head and shoulder pattern is a bearish setup. If/when the neck-line is broken to the downside, the head and shoulder pattern has serious downside. In the case of Amgen, Inc., should it break the neck-line, price could fall within weeks to below $150.00. Please note that Amgen, Inc. is not currently a short because it has not broken the trend line. This is a pattern formation that is being put on watch, in case it breaks. Then the trade can be taken.
Gareth Soloway
InTheMoneyStocks
Shares of Amgen, Inc. (NASDAQ:AMGN) have almost formed head and shoulder pattern. For those of you that do not know, a head and shoulder pattern is a bearish setup. If/when the neck-line is broken to the downside, the head and shoulder pattern has serious downside. In the case of Amgen, Inc., should it break the neck-line, price could fall within weeks to below $150.00. Please note that Amgen, Inc. is not currently a short because it has not broken the trend line. This is a pattern formation that is being put on watch, in case it breaks. Then the trade can be taken.
Gareth Soloway
InTheMoneyStocks
