The Greedy Trader Weekly Analysis
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Number of records: 8
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Amgen
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Summary:
Weekly :Overbought sectorBroken trend resistance line
Daily :Lane's Stochastic is overboughtThe price is above the upper Bollinger BandPrice has crossed above 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 15.68 points, or 8.14%, and closed at 208.25 on Friday, November 30, 2018. Weekly volume was -14% below average.

AMGN is a member of Healthcare Sector. Healthcare is the most overbought 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 trend support level is at 192.19 and resistance is at 214.87. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.

Medium-term trend: [See AMGN medium-term trend chart]
A medium-term uptrend had started on November 4, 2016 at 133.64 and reached 210.19 on September 27, 2018. AMGN gained -76.55 points, or -57.28%, in 98 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (197.79) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 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 uptrend had started on April 2, 2018 at 163.31 and reached 210.19 on September 27, 2018. AMGN gained -46.88 points, or -28.71%, in 178 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 184.38 and resistance is at 223.67. 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 short-term trend.

Daily Technical Indicators: [See AMGN daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since November 6, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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.

During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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) 76.54
Williams' Percentage Range (W%R) 29.50
Lane's Stochastic (%D-Slow) 85.62
Overbought
Greed/Fear Indicator (GFI) 77.55
Moving Average Converg./Diverg. (MACD) -0.03
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.92
Williams' Percentage Range (W%R) 27.80
Lane's Stochastic (%D-Slow) 43.18
Greed/Fear Indicator (GFI) 56.63
Moving Average Converg./Diverg. (MACD) 3.86
Trading Signals
Description Value Chart
Weekly Trendline Resistance 223.67
Yearly Trendline Resistance 214.87
Price 208.25
Daily Stochastic Crossing 207.43
Upper Bollinger Band 206.17
Monthly Trendline Resistance 199.62
50 Day Moving Average 197.91
Monthly Trendline Support 197.79
Parabolic System 195.85
20 Day Moving Average 194.74
Weekly Stochastic Crossing 194.21
Yearly Trendline Support 192.19
Lower Bollinger Band 187.03
Weekly Trendline Support 184.38
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Biotechnology 68
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 210.19
High Date 09/27/2018
Low 181.31
Low Date 10/25/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 223.67
Support 184.38
Low 163.31
Low Date 04/02/2018
High 210.19
High Date 09/27/2018
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 199.62
Support 197.79
Low 133.64
Low Date 11/04/2016
High 210.19
High Date 09/27/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
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 Valid
Resistance 214.87
Support 192.19
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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