Amgen (AMGN) Offering Possible 31.58% Return Over the Next 16 Calendar Days

Amgen's most recent trend suggests a bearish bias. One trading opportunity on Amgen is a Bear Call Spread using a strike $225.00 short call and a strike $230.00 long call offers a potential 31.58% return on risk over the next 16 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $225.00 by expiration. The full premium credit of $1.20 would be kept by the premium seller. The risk of $3.80 would be incurred if the stock rose above the $230.00 long call strike price.

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

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

The RSI indicator is below 20 which suggests that the stock is in oversold territory.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for Amgen

Is Drug Pricing Backlash a Serious Risk for Big Pharma Stocks?
Sat, 31 Oct 2020 12:22:00 +0000
The sole way that backlash over drug prices would dent pharma stock prices is from policy change, whether it's through new laws or changes to the U.S. regulatory landscape. Congressional researchers assembled a substantial set of reports that document how drug price increases were handled at each of the companies whose CEOs were scheduled to testify, and the findings were very illuminating.

Results: Amgen Inc. Beat Earnings Expectations And Analysts Now Have New Forecasts
Sat, 31 Oct 2020 12:13:28 +0000
Last week, you might have seen that Amgen Inc. (NASDAQ:AMGN) released its quarterly result to the market. The early…

Dow Jones Rebounds as Visa and Amgen Report Strong Results
Thu, 29 Oct 2020 18:13:00 +0000
The Dow Jones Industrial Average (DJINDICES: ^DJI) rebounded on Thursday after a brutal Wednesday sell-off, and was up 0.52% at the close. Shares of Visa (NYSE: V) and Amgen (NASDAQ: AMGN) rode the market higher on Thursday after both companies reported quarterly results that beat analyst expectations. Visa is seeing payment volumes recover, and Amgen posted strong growth for some of its newer products.

Amgen (AMGN) Q3 Earnings Top, Prolia, Biosimilars Drive Sales
Thu, 29 Oct 2020 15:52:03 +0000
Amgen (AMGN) beats Q3 estimates for both earnings and sales. It slightly narrows its previously issued sales guidance for 2020 while raising its earnings range.

Amgen (AMGN) Losing Altitude Despite Strong Quarter
Thu, 29 Oct 2020 14:35:58 +0000
Amgen (AMGN) is trading lower after third quarter earnings and could drop another 20 points in coming weeks.

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