The bullish DailyPlay we chose for Friday, June 29th is Amgen (AMGN). AMGN is part of the Healthcare Sector (XLV). Over the last month, XLV has experienced a 0.04% move lower and its 1m/6m trend has turned neutral yesterday but recently bounced higher off its $83 support level.
Amgen’s 1m and 6m trends turned bullish on 5/30 and recently broke above its $180 resistance level which becomes support. With a technical score of 7 (out of 10), AMGN is a strong bullish stock that will likely continue higher.
As a stop loss, if AMGN was to trade below $180 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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