Tuesday, December 21, 2010

AMGN, Biotech firms and ETF are very Bullish

AMGN broke out above 50 & 200-Day MAs on large Volume and is heading into a solid Resistance area around 58.

Biotech ETFs are very Bullish breaking above previous Resistance levels.

The relative performance charts of AMGN to the other S&P500 Biotech constituents is pointing to Outperformers: LIFE, GENZ & BIIB.

CELG & AMGN will have to overcome strong Resistance levels and GILD is clearly struggling.

No comments:

Post a Comment