Amgen Is Near a Key Resistance Area
Published on Monday, 11 February 2013 07:20 Written by TradersHuddle Wire
New York, February 11th (TradersHuddle.com) - Shares of Amgen Inc. (NASDAQ:AMGN) are trading very close to calculated resistance at $87.47. The stock ended the trading session at just $86.77, which is near levels that make it difficult to buy or start a position.
Amgen Inc. (NASDAQ:AMGN) develops, manufactures, and markets human therapeutics based on cellular and molecular biology. The company concentrates on the areas of hematology, cancer, infectious disease, endocrinology, neurobiology, and inflammation.
Amgen's stock range is defined by its calculated support defined at $81.56 and by the resistance level at $87.47; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.
Traders don't have a clear entry point for Amgen. However, as the stock pulls back towards $81.56 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $87.47 then traders will get an opportunity to enter the stock as it moves to a higher range.
- ManpowerGroup Named to 2013 Dow Jones Sustainability Index
- ManpowerGroup: Bridging Global Skills Gaps Hinges on Driving Youth Employability
- ManpowerGroup Solutions' Managed Service Provider TAPFIN Recognized as a Top Performer in Customer Loyalty Survey
- ManpowerGroup: Asian Companies Must Prioritize Leadership Development
- ManpowerGroup Solutions' Managed Service Provider TAPFIN Launches World's First Contingent Workforce Index
- Manpower Employment Outlook Survey Reports Improved Year-End Hiring Plans in U.S., Strongest Since Q4 2007
- Manpower Employment Outlook Survey Shows Most Global Employers to Adopt Wait-and-See Approach to Hiring for Rest of Year
- Align Flexible Workforce Models with Business Strategy to Thrive in Economic Uncertainty, ManpowerGroup Says, As Unemployment Rate Falls to 7.3%
- ManpowerGroup's Exemplary Workplace Practices Recognized for Fourth Consecutive Year
- ManpowerGroup on the Best Practices in Recruitment Process Outsourcing
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines