Amgen (AMGN) Offering Possible 5.71% Return Over the Next 8 Calendar Days

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Amgen’s most recent trend suggests a bullish bias. One trading opportunity on Amgen is a Bull Put Spread using a strike $177.50 short put and a strike $172.50 long put offers a potential 5.71% return on risk over the next 8 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $177.50 by expiration. The full premium credit of $0.27 would be kept by the premium seller. The risk of $4.73 would be incurred if the stock dropped below the $172.50 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Amgen is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Amgen is bullish.

The RSI indicator is at 69.89 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for Amgen

Mylan (MYL) Gets FDA Approval for Biosimilar of Neulasta
Tue, 05 Jun 2018 22:16:10 +0000
Mylan (MYL) and partner Biocon get a significant boost with the FDA approval for Fulphila, a biosimilar of Amgen’s Neulasta.

Why Alexion’s Blockbuster Franchise Is Safe From Copycats — For Now
Tue, 05 Jun 2018 20:45:31 +0000
Alexion Pharmaceuticals will likely keep 75% of its Soliris market in the U.S. even as rivals like Amgen try to copy the blockbuster drug, an analyst said Tuesday in a bullish note.

US STOCKS-S&P rises; technology helps Nasdaq hit intraday record
Tue, 05 Jun 2018 19:12:30 +0000
The S&P 500 edged slightly higher on Tuesday, on track for its third straight day of gains, while Nasdaq hit an intraday record high with help from the technology and consumer discretionary sectors. Amazon.com rose 1.8 percent, leading gains in the S&P consumer discretionary index, while Apple edged up 0.7 percent, providing the biggest boost to the technology index.

Mylan shares zoom 7% on key approval and $4.5 billion market opportunity
Tue, 05 Jun 2018 19:01:47 +0000
Being first to market helps Mylan, as does the competitive landscape for Neulasta biosimilarsBloomberg NewsHeather Bresch, chief executive officer of Mylan, speaks during an interview in New York in 2016. Mylan NV marked a major success late Monday with the first U.S. approval of a biosimilar version of Neulasta, an anti-infective used for patients undergoing cancer treatment. Biosimilar drugs are copycat versions of expensive biologic drugs, which treat complex diseases like cancer, multiple sclerosis and diabetes.

Watch Out Amgen, Here Comes Mylan
Tue, 05 Jun 2018 19:00:00 +0000
Mylan’s latest FDA approval puts it in direct competition against one of Amgen’s most important drugs.

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