Amgen stock (AMGN) filled its downside gap, ground out a low and rallied
I bought AMGN too early, before it dropped to fill the gap it eventually filled and so my paper profit is not what it would have been had I waited a bit longer. Lesson? Gaps often matter, why not wait for them to fill? Anyway, I may take a moderate profit on it (not yet decided) below resistance because there is something else in the Biotech sector I have my eye on.
But I find it interesting and a little frustrating that no matter how long I do this job I still struggle with patience sometimes. I was not desperate to own Amgen stock * and yet I bought it too early anyway. It was probably added for portfolio balance reasons, but that seems like an excuse in hindsight.
* The short-term fundamentals were questionable at best.
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