The Professor was one of the earliest to get bullish on the commodities sector. Since he first started to look at commodities stocks like RIO and CVX, they have exploded.
The Professor has now turned his attention to the Biotech sector, which he thinks is primed for a breakout, and has identified 2 stocks with ideal setups.
PFIZER INC
Pfizer Inc. (PFE) discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas. Pfizer says 2021 COVID-19 vaccine sales to top $33.5 bln, sees need for boosters.
PFE 1 Hour Chart
The Trade Setup:
- Bull Flag: A breakout of the bull flag will trigger momentum to the fib extensions above.
- TTM Squeeze: There is positive sloping momentum even though it is flat to negative currently. A fire with positive momentum should signal to the bulls the price is going higher and cause more to jump into the trade.
- On Balance Volume: OBV is neutral…I want to see it bullish when price crosses above $53.60
My Trade Plan:
- Entry $53.60
- Target $55.21
- Target $56.53
- Buy 14 APR $52.50 Calls
This Idea was sent to subscribers on 25th of March
AMGEN INC (AMGN)
Amgen Inc. discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company’s products include Enbrel to treat plaque psoriasis, Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.
AMGN 1 Hour Chart
The Trade Setup:
- Ascending Triangle: Supports the bullish pattern as the buyers are still in control at this time. Looking for a breakout of the upper pivot near $239.88 to signal the momentum is heading upward. I want to use the fib extension targets above for my areas to exit
- TTM Squeeze : Positive momentum with red dots. If the bulls continue to pressure here, I would expect the TTM to fire causing more bulls to jump in for the push to the upside
- On Balance Volume : OBV is bullish and looks like the underlying volume is only buyers right now. I want to see this trend continue through the potential breakout.
My Trade Plan:
- Entry $239.88
- Target $242.62
- Target $245.38
- Buy 14 APR $237.50 Calls
This Idea was sent to subscribers on 25th of March.
The Professor has live training sessions daily for subscribers.
The Professor, Mike Parks, is Raging Bull’s Senior Training Specialist.
Mike is a veteran trader and educator and is adding a level of insight to Total Alpha that can only come from decades of experience in trading and market education.
Mike has incredibly knowledgeable about all things markets and his talent for teaching new traders how to use market signals to choose the right options strategies is unmatched.
