This is a great community to be involved in...but look out, that Landry is a wild man!
Amgen In July
- Thread starter Derrik Hobbs
- Start date
This is a great community to be involved in...but look out, that Landry is a wild man!
AMGN hit the 1.618 Fib extension level of the Bearish Butterfly pattern from the daily chart that I posted a couple days ago. If this pattern "fails" on the daily chart then we could see a good chance for this stock running up through the larger time frame resistance from 70 to 75. If it holds, it may serve as a low risk short set up. I'll keep you posted on my activity here. So far, no move.
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I'm now short AMGN with a stop above the double top on the 30 min chart around 70.40ish.
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Thanks...its up to the probability gods now...I got my stop in.
That's a good saying. I was thinking about something like that this morning before the market opened. Once you open a position, and especially when you hold overnight, it's out of your hands. You can only manage the position by changing the number of shares or closing it, but the actual movement is uncontrollable. It's an interesting concept.
Hey there. Yes...stopped out based on the daily chart, but still very interested in the short trade based on the weekly chart from the original post. You're right...nice candlestick today. So, waiting on another short opp here.
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