Market Looks Tired
Biotech sector was the big winner yesterday, with the sector breaking out of ascending triangle on high volume.
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AMGN's Vectibix drug was approved for colon cancer yesterday just before market closed. Stock closed @72.14. From Briefing.com "...We also note that back on Sep 14, Citigroup said they expected AMGN to react +5% to +10% with a full approval..." If the Citigroup analysts were right, then we can expect AMGN to hit abt $74 conservatively (1.05*71), which is right at about the 6 month high. Keep it in your radar for today.
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