Amgen (AMGN) Offering Possible 38.12% Return Over the Next 9 Calendar Days

Amgen's most recent trend suggests a bearish bias. One trading opportunity on Amgen is a Bear Call Spread using a strike $140.00 short call and a strike $145.00 long call offers a potential 38.12% return on risk over the next 9 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $140.00 by expiration. The full premium credit of $1.38 would be kept by the premium seller. The risk of $3.62 would be incurred if the stock rose above the $145.00 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

California drug pricing initiative headed for defeat
Wed, 09 Nov 2016 08:01:21 GMT
Reuters – A California ballot initiative aimed at reining in rising prices for prescription drugs was headed for defeat on Tuesday after pharmaceutical companies spent more than $100 million to fight it. The California Drug Price Relief Act, also known as Proposition 61, sought to limit state health programs from paying more for medications than the U.S. Department of Veterans Affairs (VA), which receives the steepest discounts in the country. As of late Tuesday night, with 47 percent of precincts partially reporting, the vote was 46 percent in support of the measure and 54 percent opposed, according to California's Secretary of State.

California's drug price showdown
Tue, 08 Nov 2016 22:35:00 GMT

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Tue, 08 Nov 2016 21:50:04 GMT

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Tue, 08 Nov 2016 21:09:33 GMT

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Tue, 08 Nov 2016 21:03:18 GMT

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