Is Amgen Close to Support?

New York, June 10th (TradersHuddle.com) - Shares of Amgen Inc. (NASDAQ:AMGN) ended the trading session close to calculated support at $94.15, a level that will raise the attention of traders looking for an entry point.

Amgen's stock range is defined by its calculated support defined at $94.15 and by the resistance level at $108.03. This range could be used as a reference by traders planning their next move. The area where buyer interest might materialize is defined as calculated support. Stocks trading near support might see upside if it can successfully hold the technical level. However, this area if breached will signal participants that the stock failed to entice buyers to step in to support it.

Traders wanting to establish a position should pay close attention to Amgen's price action, and establish it as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $108.03 might limit their upside, however, if the stock breaks resistance, it could be a good point to add to the position.

Shares of Amgen Inc. closed at $98.81 in the prior trading session.

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.

Note - Automated Content Created By TradersHuddle's Technical Scanner




Related Partner Headlines

    Volatile market? That's when profit potential skyrockets for options traders. Now you can get up to 50 trade opportunities a week from top options experts -- plus much more -- on our exciting new site OptionsProfits. Try it FREE!

    TradersHuddle Search

    Stock Search:


    Site Search:

    Loading

    Technical Scans

    Recent Trading Ideas

    Latest Partner Headlines

    Stock Market

    Loading
    Chart
    o Dow Jones 17,010.43 ▲27.84 (0.16%)
    o S&P 500 1,980.63 ▲1.72 (0.09%)
    o NASDAQ 4,459.73 ▲14.82 (0.33%)
    INDEXDJX:.DJI

    Dow Jones

    Company ID [INDEXDJX:.DJI] Last trade:17,010.43 Trade time:12:48PM EDT Value change:▲27.84 (0.16%)
    INDEXSP:.INX

    S&P 500

    Company ID [INDEXSP:.INX] Last trade:1,980.63 Trade time:12:48PM EDT Value change:▲1.72 (0.09%)
    INDEXNASDAQ:.IXIC

    NASDAQ

    Company ID [INDEXNASDAQ:.IXIC] Last trade:4,459.73 Trade time:12:48PM EDT Value change:▲14.82 (0.33%)

    In The Wires

    Copyright © 2013 TradersHuddle.com. All Rights Reserved.