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ShadowTrader Free Trade Idea of the Week – AMGN – Short

"Danno" Sheehy
Equity Strategist

Each week Peter and his minions scour the markets to find the best equity and forex setups for the followers of the Swing Trader and FX Trader. Premium subscribers get 2-5 of these daily. Every weekend we present one trade idea from either the equity or the forex side here.Note: Free weekly trade ideas are strictly DIY (do it yourself!) and are not actively managed or updated once presented and may or may not be stocks that are currently in play in our newsletters. For a more “full service” feel, with real-time email alerts and updates, please check out the ShadowTraderPro Swing Trader and ShadowTraderPro FX Trader. TDC

Amngen Inc. (AMGN) – Short
Entry – 182.75-184.20
Stop – 186.00
Target – 168.00

AMGN has traded higher the great majority of days over the past two weeks and is now facing resistance of longer term highs.  The first test of the range of recent highs has a higher probability of reversing back lower, particularly after the recent run up.  The trade parameters  of this short play in AMGN on the chart above offer a better than 3 to 1 reward to risk ratio.



Written by "Danno" Sheehy

Danno is the editor of the ShadowTraderPro Swing Trader and is the developer of the ShadowTrader Sector Trend Scores and also the infamous ShadowTrader Money Flow indicator. Check out the full version of the Swing Trader newsletter daily at

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