AMGN Gap Fill

I’ve been trying to buy AMGN for months, and it looks like a buying opportunity might come up soon if the market and the stock don’t recover soon.

In general, the entire market indices have been turning insanely bearish (as they retest supports), potentially creating buying opportunities everywhere.

Today AMGN broke its critical support, and (judging by the volume) it looks like it may tread a little lower to fill the gap it created last quarter when it announced stellar earnings. It’s important to point out that todays volume was double the average, most likely because a ton of people put sell-stop orders right below the support line.

If the markets don’t recover tomorrow, the next potential support is either the bottom of the gap, or the rising 200DMA.