AMGEN- Overbought, or Cup and handle?

RSI is definitely overbought. This COULD lead to a PERFECTLY set up cup and handle right before earnings to pump this up. Earnings is on July 29. More than enough time to fill out the Cup, and form a handle for an explosive move up before earnings.

We are at the top BB so it could be a week or 2 before hitting the top to see if a handle forms, if AMGEN goes parabolic, or if this was a suckers rally.


This is purely speculation. I do not plan on trading this in the next 72 hours.

DYOR.

Kommentera:

Also, forgot to mention, the Momentum on this is skyrocketing. Most moves going back a few years were pretty slow. Back in 2017 it went from -5.3 to about 3 from March 30th to May the 4th.

From May 13th to June 21st it's moved from about -13.9 to just over 11.

Also most of the moves in momentum that I noticed appeared to move down in stock price. This seems different........