Amgen Inc., a biotechnology medicines company, discovers, develops,
manufactures, and markets human therapeutics based on advances in
cellular and molecular biology for grievous illnesses primarily in the
United States, Europe, and Canada. Its principal products include
Neulasta and NEUPOGEN to stimulate the production of neutrophils, which
is type of white blood cell that helps the body fight infections;
Enbrel, an inhibitor of tumor necrosis factor that plays a role in the
body's response to inflammatory diseases; and Aranesp and EPOGEN
erythropoiesis-stimulating agents, which stimulate the production of red
blood cells. The company also markets other products comprising
Sensipar/Mimpara, a small molecule calcimimetic that lowers serum
calcium levels; Vectibix, a monoclonal antibody that binds specifically
to the epidermal growth factor receptor; and Nplate, a thrombopoietin
(TPO) receptor agonist that mimics endogenous TPO, the primary driver of
platelet production, as well as offers Prolia and XGEVA denosumab,
which are human monoclonal antibodies that specifically targets RANKL,
an essential regulator of osteoclasts. In addition, it provides product
candidates in mid- to late-stage development in various therapeutic
areas, such as oncology, hematology, inflammation, bone health,
nephrology, cardiovascular, and general medicine, which includes
neuroscience.
To review Amgen's stock, please take a look at the 1-year chart of AMGN (Amgen, Inc.) below with my added notations:
AMGN has been trading mostly sideways over the last (5) months while
stalling at a clear $90 resistance level (navy). A break through this
level would be a 52-week high and should mean higher prices overall for
the stock. As you can see from the chart above, AMGN did exactly that
earlier this week.
The Tale of the Tape: AMGN has broken out through
its $90 resistance level. A long trade could be made on a pullback down
to that level. A break back below $90 would negate the forecast for a
move higher.
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