TwinTrader.com announces the publication of Breakout for AMGN; highlighting public companies on the move and what’s behind the surge.
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“Amgen Inc. is a biotechnology company engaged in the discovery, development, manufacture and marketing of human therapeutics based on advances in cellular and molecular biology. It markets human therapeutic products in the areas of supportive cancer care, nephrology, inflammation and oncology…
“A growing consensus among investors is that in the past two years, trading has wrung-out all the sellers in the stock. Second-quarter prescription data for Aranesp suggest the revenues for the drug has stabilized. At a forward P/E of 10 for 2009, the stock has become one of the cheapest large-caps with growth potential…
“Daily RSI(14) indicates a stock overbought for the past five trading days. The 50-day moving average has turned up since late May. At these price levels, the 50-day moving average will cross the 200-day moving average in the fourth quarter 2008...”
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