Stocks This Week: Sell Short Amgen And Kraft Heinz – Business Quick Magazine

This coming week is post-OPEX week which has tended to be volatile and to be bearish. The S&P rallied and is likely to correct in the coming week. This coming week has also been bearish seasonally. The monthly S&P 500 cycle also dips slightly. With the 10-day breadth line overbought, the market is too extended short-term and is vulnerable to a decline. 

S&P Performance in Post-OPEX Week in October

Here are two short sale recommendations for the near term.

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The Amgen AMGN weekly cycle (6 of 6 signals correct) peaks on October 19th and bottoms on November 12th. In addition, the monthly cycle (all 3 have been accurate) hits a high on the 27th

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. The period from the 18th through the 27th has been seasonally weak; the stock has dropped by 2.5% on average. The stock is likely to move closer to $220.

Amgen Weekly Cycle

Amgen Daily Graph

The weekly Kraft Heinz cycle (5 of the last 5 have been accurate) tops on October 19th and bottoms in December. The stock is overbought and is likely to fall to the $29-$30 level.

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Kraft Heinz Weekly Cycle

Kraft Heinz Daily Graph

 

 

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