The Greedy Trader Weekly Analysis
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Amgen
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Summary:
Weekly :Broken trend support lineOversold sector
Daily :Broken trend resistance lineDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger BandsPrice is close to the 50 Day Moving Average
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It was a first positive week for the Amgen (AMGN). During the week, the AMGN gained 10.37 points, or 5.73%, and closed at 191.24 on Friday, March 15, 2019. It was the best weekly gain since December 28, 2018. Weekly volume was 25% above average.

AMGN is a member of Healthcare Sector. Healthcare is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See AMGN long-term trend chart]
A long-term uptrend had started on March 20, 2008 at 39.16 and reached 210.19 on September 27, 2018. AMGN gained -171.03 points, or -436.75%, in 549 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (196.26) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.

Medium-term trend: [See AMGN medium-term trend chart]
A medium-term uptrend had started on September 28, 2015 at 130.09 and reached 210.19 on September 27, 2018. AMGN gained -80.10 points, or -61.57%, in 156 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 141.13 and resistance is at 217.77. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See AMGN weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since October 19, 2018. Use the following link to access a MACD help.

Short-term trend: [See AMGN short-term trend chart]
A short-term downtrend had started on January 18, 2019 at 204.33 and reached 179.01 on March 8, 2019. AMGN lost 25.32 points, or 12.39%, in 49 days. The chart has formed a Ascending Triangle chart pattern. The downtrend resistance line (178.89) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.

Daily Technical Indicators: [See AMGN daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.90
Williams' Percentage Range (W%R) 28.30
Lane's Stochastic (%D-Slow) 61.16
Greed/Fear Indicator (GFI) 61.92
Moving Average Converg./Diverg. (MACD) -1.39
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.88
Williams' Percentage Range (W%R) 66.90
Lane's Stochastic (%D-Slow) 33.37
Greed/Fear Indicator (GFI) 38.98
Moving Average Converg./Diverg. (MACD) 0.00
Trading Signals
Description Value Chart
Yearly Trendline Resistance 218.94
Quarterly Trendline Resistance 217.77
Monthly Trendline Resistance 204.82
Yearly Trendline Support 196.26
Upper Bollinger Band 193.73
50 Day Moving Average 191.32
Price 191.24
Weekly Stochastic Crossing 187.43
Daily Stochastic Crossing 187.42
20 Day Moving Average 187.33
Weekly Trendline Resistance 186.59
Lower Bollinger Band 181.25
Parabolic System 179.34
Weekly Trendline Support 178.89
Monthly Trendline Support 175.47
Sector and Industry
Description Name Rank
Sector Healthcare 2
Industry Biotechnology 34
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 192.19
High Date 02/27/2019
Low 179.01
Low Date 03/08/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 186.59
Support 178.89
High 204.33
High Date 01/18/2019
Low 179.01
Low Date 03/08/2019
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 204.82
Support 175.47
High 210.19
High Date 09/27/2018
Low 178.29
Low Date 12/24/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 217.77
Support 141.13
Low 130.09
Low Date 09/28/2015
High 210.19
High Date 09/27/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 218.94
Support 196.26
Low 39.16
Low Date 03/20/2008
High 210.19
High Date 09/27/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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