Jim Van Meerten's  Instablog

Barchart.coms Chart of the Day - Amgen (AMGN)

Barchart Research Team - BC - Tue Oct 16, 6:29PM CDT

The "Chart of the Day" is Amgen (AMGN), which showed up on Tuesday's Barchart "All Time High" list. Amgen on Tuesday rallied to a new all-time high of $88.19 and closed +2.10%. TrendSpotter has been long since Oct 1 at $85.08. In recent news on the stock, Citigroup on Tuesday reiterated its Buy rating on Amgen and raised its target to $99 from $92 ahead of the company's earnings report, which is expected on Oct 23. Brean Murray on Sep 27 initiated coverage on Amgen with a Buy and a target of $96. Amgen, with a market cap of $65 billion, discovers, develops and delivers innovative human therapeutics. A biotechnology pioneer, Amgen was one of the first companies to realize the new science's promise by bringing safe and effective medicines from lab, to manufacturing plant, to patient.

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How we found the Chart of the Day:

We found the "Chart of the Day" by scanning the Barchart "All Time High" list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the "All Time Highs" menu item on the left menu bar. We then sorted the list by percentage gainers by clicking on the "Percent" column title. A stock that has posted a new All-Time high is typically showing strong upside momentum.

The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

• TrendSpotter: Buy
• Short-Term Indicators: 80% Buy
• Medium-Term Indicators: 100% Buy
• Long-Term Indicators: 100% Buy
• Overall Average 96% Buy

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