Buy Amneal Pharmaceuticals | NASDAQ AMRX | Naranj Capital

 BUY   Amneal Pharmaceuticals (NASDAQ: AMRX)

Amneal Pharmaceuticals (NASDAQ: AMRX) STOCK RECOMMENDATION

Idea BUY
Buy Range 8.5 – 8.75
Target 9.1 – 9.25
StopLoss* below 8.25
Duration 10-12 Trading Days
Potential Returns 5% – 6%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 8.5 – 8.75 9.1 – 9.25 below 8.25 10-12 Trading Days 5% – 6%

* Once the first target hit, reset the StopLoss at your buying price.

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Amneal Pharmaceuticals (NASDAQ: AMRX) STOCK OVERVIEW

Amneal Pharmaceuticals, Inc. and its subsidiaries develop, manufacture, market, and distribute generics, injectables, biosimilars, and specialty branded drugs globally. The company has three segments: Generics, Specialty, and AvKARE. The Generics segment provides various forms of medications, including oral solids, injectables, and topical products. The Specialty segment focuses on drugs for central nervous system and endocrine disorders, offering products like Rytary for Parkinsonโ€™s disease and Unithroid for hypothyroidism. The AvKARE segment supplies pharmaceuticals and medical products mainly to government agencies and the Department of Defense, also distributing under the AvKARE and AvPAK brands. Products are sold through wholesalers, hospitals, and pharmacies. Founded in 2002 and based in Bridgewater, New Jersey, the company was previously known as Atlas Holdings, Inc. before rebranding in 2018.

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Stock Data
NASDAQ Symbol AMRX
Sectoral Index Health Care
52 Weeks High 8.94
52 Weeks Low 3.36

Amneal Pharmaceuticals (NASDAQ: AMRX) - RELATIVE STRENGTH

AMRX-RELATIVE STRENGTH

Relative Performance - Last 1 Year

AMRX —     NASDAQ —

Amneal Pharmaceuticals (NASDAQ: AMRX) - DAILY TECHNICAL ANALYSIS

Amneal Pharmaceuticals (NASDAQ: AMRX) - Technical Analysis (Daily)
  • The stock price has been increasing within a parallel channel and is exhibiting robust upward momentum.
  • Previously, the price underwent a consolidation phase within a Rectangle pattern, and following a breakout, it surged to new levels.
  • Currently, the price has established a Symmetrical Triangle pattern and is poised for a potential breakout in the near future.

Amneal Pharmaceuticals (NASDAQ: AMRX) - RSI

AMRX-RSI
Amneal Pharmaceuticals (NASDAQ: AMRX) - RSI
  • Current RSI of this stock is 59.32, which indicates the strength of buyers.

Amneal Pharmaceuticals (NASDAQ: AMRX) - MACD

Amneal Pharmaceuticals (NASDAQ: AMRX) - MACD
  • MACD line is about to cross the signal line from the below, generates bullish signal.

Amneal Pharmaceuticals (NASDAQ: AMRX) - EMA CROSS

Amneal Pharmaceuticals (NASDAQ: AMRX) - EMA Cross
  • The short length exponential moving average (10 EMA) has crossed the long length exponential moving average (20 EMA) from the below, generates bullish signal. Last dayโ€™s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.

CONCLUSION - Amneal Pharmaceuticals (NASDAQ: AMRX) STOCK PRICE FORECAST

Based on our stock trading advice in USA, Amneal Pharmaceuticals stock price target will be USD 9.1 – USD 9.25 in the next 10-12 trading sessions.

Amneal Pharmaceuticals (NASDAQ: AMRX) TRADINGVIEW POSITION UPDATE

MONEY MANAGEMENT AND TRADING RULES

1)ย  Itโ€™s advisable to enter/exit in the recommended range.
2)ย  Strictly follow the StopLoss as mentioned. Honour it.
3) ย Use trailing StopLoss to retain profits.
4)ย  Diversify trading capital into our other trading recommendations.
5)ย  Risk only the money what you can afford to lose. Hedge accordingly.

Advisor / ANALYST SUMMARY

The stock trading advice is prepared by the Naranj Capital team under the guidance ofย Arijit Banerjee, CMT, CFTe. Arijit is a veteran trader and an active investor having in-depth knowledge of financial market research, advanced technical analysis, market cycle, algorithmic trading, and portfolio management. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the global authority of Technical Analysis and also has been honored as aย Certified Financial Technician (CFTe)ย by the International Federation of Technical Analysts, USA.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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