Last weekend I profiled the Biotech sector and
AMGN as potential longs in a weak tech market. I still see the sector as the strongest and
AMGN is looking even better now as it crosses its 50 MA.
After a parabolic rise from March to early May,
CTXS has come back into its trendline and bullish gap support. Watch this one closely as we could get a bounce here.
LRCX carved out a dark cloud cover bearish reversal candlestick on Friday after retesting its broken trendline. We also have a 20/50 MA death cross pushing price back down. The best way to trade this type of bearish setup is to short on an intraday lower high with Friday's opening high as the baseline.
Last weekend I profiled the Biotech sector and AMGN as potential longs in a weak tech market. I still see the sector as the strongest and AMGN is looking even better now as it crosses its 50 MA.
After a parabolic rise from March to early May, CTXS has come back into its trendline and bullish gap support. Watch this one closely as we could get a bounce here.
LRCX carved out a dark cloud cover bearish reversal candlestick on Friday after retesting its broken trendline. We also have a 20/50 MA death cross pushing price back down. The best way to trade this type of bearish setup is to short on an intraday lower high with Friday's opening high as the baseline.
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