BUY! AMGEN INC (AMGN) Nasdaq

  Report No. 1688    Analysis by: Harry Aloof     JANUARY 23, 2003

AMGEN INC (AMGN-Nasdaq): Technical Viewpoint: From a low of $43.90 on Nov 8, 2002 prices rallied, reaching a high of $53.02 on Dec 24, 2002. A decline saw prices pull back, reaching a low of $47.96 on Dec 31, 2002. Another rally saw prices penetrate resistance, closing 1/22/03 at $6=52.50. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Nov 27, 2003 when the Histogram crossed the "0" line to the upside. Support: Remains at $49.75. Resistance: Is at $53.02. Point & Figure: Reversed to the upside on Jan 6, 2003. A P&F upside reversal takes place at $50.25. Summary: Technical indicators have turned bullish. BUY! AMGEN INC (AMGN-Nasdaq) @ $53.13 Stop: Use a protective stop of $50.63. AMGEN INC is currently trading @ $6=52.50 plus $1.63 on Jan 22, 2003. Price Objective: $75.00. Risk/Reward: $2.50 VS. $21.88. Today's Risk Reward Ratio: 9:1

Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study

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Price Objective:
$75.00 Risk/Reward:
$2.50 VS. $21.88 Risk/Reward Ratio:
9:1
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