Tuesday, February 20, 2007

AMGN Alert

Notable Calls this morning reports on AMGN and says that the recent sell-off related to a bad investigation was not necessary. Apparently a couple of firms are out in defense of AMGN and from my point of view which is strictly TA it appears to be forming a BOB on the weekly charts.

I don't like biocrappa in general but AMGN has been around forever and it appears to me that there might be some recovery coming. Of course you will need a confirmation (the third candle) so this is just a heads-up.

If you like the biopharma then I'd keep an eye on it and if a turn around comes you might want to get on board. It may be the last time you get this stock at this level.