Amgen Could Rally Higher On This Breakout

Amgen (AMGN) is finally breaking higher after a long period of consolidation, and looks to have further upside over the next few years. Although the biotech’s revenue has steadily grown, investors have had mixed sentiment as they await Amgen’s next move. Now, with its strong cash flow from existing operations, as well as increasing growth in its up and coming drug segment, excitement is renewing around the company’s future. Moreover, the company looks like an attractive total return play with its high dividend yield, making it a buy at current levels.