Signal Says Pharma Stock Selloff Should Be Over
Amgen(AMGN) Forbes·2024-11-14 04:30
Shares of pharmaceutical giant Amgen (AMGN) are attempting to bounce back after suffering a steep drop of 7.1% yesterday, following reports that the company’s weight-loss drug, MariTide, triggers a significant loss in bone density. Last seen holding above $300, AMGN could be due for more chart recovery if past is precedent.Specifically, Amgen stock pulled back to within one standard deviation of its 320-day moving average during yesterday's negative price action. Per Schaeffer's Senior Quantitative Analyst ...