Read MoreHere's what's weighing on this biotech stock
"Amgen consolidated for much of 2015 and we've recently broken out of this range," added Gordon, founder of TradingAnalysis.com. Amgen shares have rallied more than 13 percent in the past 30 trading sessions. "The stock has also broken through this resistance level at $166, and that should serve as support."
For Gordon, if that support level holds through earnings, the stock could move sharply higher. "Ultimately I think we can get up to the $180-to-$190 range in the stock." That's a 5 to 11 percent move from the current price of just under $172 a share and puts the stock at all-time highs.
But as the Biotech space proves volatile, Gordon recommended using options to get long the stock. Specifically, for investors looking to capture earnings, Gordon suggested selling puts at the 165-strike. And for longer-term investors, he recommended buy calls.
"Longer-term I think this is a stock that wants to break out and could go as high as $200," he added.
Amgen reports its fiscal 2015 earnings report Thursday after the bell. Analysts surveyed by FactSet are expecting the company to earn $2.43 per share on $5.3 billion in revenue.