New Directional Call Plays – AMGN

By , August 15th, 2012 | Market News | 0 Comments

Amgen Inc. – AMGN – close: 83.54 change: +1.67

Stop Loss: 81.45
Target(s): 88.50
Current Option Gain/Loss: Unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
Biotech giant AMGN is showing some relative strength. Shares had been consolidating sideways the last several days. The stock began trading ex-dividend today. The quarterly cash dividend was 36 cents. Currently AMGN has a bullish trend of higher lows and higher highs on the daily chart. We want to jump on board with today’s rally.

Today’s high was $83.62. I am suggesting a trigger to buy calls at $83.75. More conservative traders could wait for a new high over $84.40 while nimble traders could try and buy a dip near $82.50 instead.

Trigger @ 83.75

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