A look at Amgen Inc — Weekly Walk Along the Upper Channel

by DAN Amgen Inc ($AMGN) averages are at $118.01 (21 day SMA), $115.46 (50 day SMA), $109.14 (200 day SMA). Over the past 52 weeks AMGN has traded from a low of $82.92 to a high of $124.46. AMGN was last at $121.52 on a volume of 1,025,090. Average daily volume has been at 3,165,492.

52 Week Range $82.92-$124.46 Market Cap 91,581,085,364 Average Volume 3,165,492 Dividend Yield 2.05% Institutional Ownership 83.50% Insider Ownership: 0.20% Percentage of Float Short 1.40% Beta 0.55

Amgen (AMGN) has been trending higher for more than 2 years, running from $60 up to $120. The stock has been resting since early November but appears to be breaking out again. Last week’s high was $124.46. After a slight retracement from that level, AMGN is setting up to re-test that resistance level. Building a small position now provides a low-risk method of buying a potential breakout stock before it breaks out. With biotech remaining one of the strongest sectors, AMGN looks appealing at this level.

Amgen Inc. is a biotechnology medicines company. It discovers, develops, manufactures and delivers innovative human therapeutics.

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