Hubert Senters here.
Let’s take a look at AMGN also known as Amgen. Nasty little looking trade here. So the ADX is below $20. It’s $10.69 which means it’s non-trending. And you should be able to pick that up your eye and you should just look at here.
And go that looks like a relatively tight range.
Now per thing or per equity so this range of like $237, $263 is a tight range for Amgen. That would be wide range for Microsoft so when you’re looking at this stuff keep that in mind. And then we’ve got a sell signal below the cloud here.
We also have a bracket trade which means there’s a breakaway gap that may or may not filled fairly quickly or over a longer period of time. So I would say it’s a better short than it is a long but still let it break $239 to the downside. And then after that the short will potentially go to $219.
Good luck. Hope it helps. See you on the next video.
Hubert.
