AMGN may test $57 before consolodating back into the $40's where a good buy point for calls may be the bottom of this stil falling trend.
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- Rodney
- A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.
Tuesday, July 15, 2008
Pharmas: They can go lower.........
Long term charts of Pfizer, Merck, and Amgen show the probability of continued lower trends. Basically there is just no bullish momemtum in the pharmaceuticals whick could be attributed to the coming election and the possible coming onslught of Democratic attacks on healthcare costs. Perhaps the more accurate reasons are the lack of Pipeline drugs in Phizer and Merck. Amgen is probably the most healthy of the three in the pipeline category and thus indicates the stronger of the three charts at this point.
AMGN may test $57 before consolodating back into the $40's where a good buy point for calls may be the bottom of this stil falling trend.
AMGN may test $57 before consolodating back into the $40's where a good buy point for calls may be the bottom of this stil falling trend.
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