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AMGN and BTK charts

 
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arthur
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PostPosted: Mon Dec 27, 2004 5:15 pm    Post subject: AMGN and BTK charts Reply with quote
The AMGN weekly chart shows a steady trading range for several weeks. Also, AMGN is above it's 10 and 40 week MAs, and the 10 week MA may be significant support. Consequently, AMGN may be a safer trade than SMH.

The second chart is a BTK year-to-date daily chart (AMGN is the largest component). BTK created a bullish inverse head & shoulders pattern. The uptrend line, and 50 & 200 day MAs may together provide strong support. Consequently, BTK may breakout to the upside.


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