|
Here is the final update of recent forecasts made
to this group.
On 9/29 I said AMGN could be expected to put in a
low pivot between 10/1 and 10/3 and to rally to the mid-channel line since it
was pointed out that AMGN was in a weekly confirmed down trend.. The actual buy
signal and low pivot came the next day, 9/30 and the stock rallied two days,
putting in a high pivot on the Near Impulse forecast date (vertical line) and at
a price just above the mid-channel line and at the weekly trend line (blue line
turning red). The two day decline from there was harsh with an inside day and
another buy signal on Friday.
The next Near Impulse forecast dates are 10/13 -
10/14 so we may expect a short term rally into those dates before a continued
downtrend. I would expect a move at least to the $72 area and perhaps to the $60
area. Not shown is a monthly chart with sell signals in August and September and
a unconfirmed monthly high pivot. Confirmation will come with an October close
below the September low..
Jim White
----- Original Message -----
Sent: Thursday, September 29, 2005 9:47
AM
Subject: [RT] AMGN
Here is what the Near Impulse Forecaster and Pivot Trade
methodology say's
about AMGN. The weekly chart shows a weekly high pivot
confirmed by this
week's close below the low of last week. The Daily chart
shows the high
pivot signal on 9/20 and a potential low pivot forecast for
Monday to
Wednesday of next week. The rally could be expected to the Daily
Mid-Channel
line.
Jim White
YAHOO! GROUPS LINKS
| 