Amgen (AMGN) Offering Possible 21.65% Return Over the Next 10 Calendar Days

Amgen's most recent trend suggests a bullish bias. One trading opportunity on Amgen is a Bull Put Spread using a strike $139.00 short put and a strike $134.00 long put offers a potential 21.65% return on risk over the next 10 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $139.00 by expiration. The full premium credit of $0.89 would be kept by the premium seller. The risk of $4.11 would be incurred if the stock dropped below the $134.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Amgen is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Amgen is bullish.

The RSI indicator is at 45.98 level which suggests that the stock is neither overbought nor oversold at this time.

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Amgen's Humira copy succeeds in skin disease trial
Wed, 08 Oct 2014 16:01:13 GMT
Reuters – Amgen Inc said its copycat version of AbbVie Inc's blockbuster biotech drug Humira showed comparable safety and ability to generate immune response in patients with a type of skin disease. The drug, ABP 501, was being tested in a late-stage trial in patients with plaque psoriasis, a skin disease caused by dysfunction of the immune system and which leads to painful, itchy red patches. Humira, a rheumatoid arthritis injection, is also approved for a number of other inflammatory diseases including plaque psoriasis.

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