Sunday, April 22, 2007

AMGN Analysis for 04.22.2007

Monthly chart shows support off the $55.00 area. There is also a bullish gartley butterfly type pattern into the $55 area support.

Weekly chart shows current resistance at the LIS of $63.50, where sellers showed up on Thursday.

The Daily chart shows early buyers gapping up the price through the 8ema on April 13th, and through the 34ema on April 19th. Need to clear the current resistance and LIS at $63.50 before a re-test of the $77 high.

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