Amgen AMGN Stock & Option Trade Ideas

Based on the technical data for AMGN, the stock is currently exhibiting bearish signals:

• The MACD line is consistently below the Signal line, indicating a bearish trend.
• The stock price is approaching the lower Bollinger Band, suggesting potential oversold conditions.
• The RSI is below 50, indicating bearish momentum.

Considering this bearish outlook, here are some potential stock and option trading strategies for AMGN in the coming days:

• Stock Trade: Consider entering a short (sell) position on AMGN if the price breaks below the lower Bollinger Band, with a target price near the lower support levels.
• Option Trade: Purchase put options on AMGN with a strike price below the current price level to benefit from potential downward movement. Consider a short to medium-term expiration date to capture the expected bearish momentum.
• Risk Management: Implement stop-loss orders to protect against unexpected market movements and manage risk effectively.