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Large Cap Biotech Name Nearing Breakout to Highs

by | Jun 20, 2024

Amgen (AMGN) shares of the large cap biotech are curling higher and back inside the monthly value area closing strong on Thursday in a sloppy market. AMGN is seeing a bullish MACD cross confirm upside momentum reigniting and likely moves to the 316 top of value next with a potential larger breakout looming back up to the prior highs near 325. This week the stock has seen buyers of 500 Jan $325 calls and the August $325 calls bought 800x while recent large buyers of 1000 July $280 calls at $27.25 still holding in OI.

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