The Greedy Trader Weekly Analysis
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Amgen (AMGN)

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Summary:
Weekly :Broken trend support line
Daily :Williams' Percentage Range is overboughtThe price has risen above the Parabolic SAR
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It was a first positive week for the Amgen (AMGN). During the week, the AMGN climbed 1.66 points, or 0.90%, and closed at 185.94 on Friday, July 5, 2019. Weekly volume was -29% below average.

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 (200.74) 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 142.11 and resistance is at 222.84. 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 above its signal line since June 21, 2019. This is an indication that the medium-term trend is up. 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 May 15, 2019 at 166.30 and reached 189.42 on July 3, 2019. AMGN gained -23.12 points, or -13.90%, in 49 days. The price is now at the 15.05% retracement level.

Daily Technical Indicators: [See AMGN daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. 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 Williams' Percentage Range help.

The daily MACD line is above its signal line since May 21, 2019. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 71.42
Williams' Percentage Range (W%R) 12.30
Overbought
Lane's Stochastic (%D-Slow) 74.55
Greed/Fear Indicator (GFI) 77.88
Moving Average Converg./Diverg. (MACD) 2.71
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.11
Williams' Percentage Range (W%R) 30.90
Lane's Stochastic (%D-Slow) 57.61
Greed/Fear Indicator (GFI) 57.66
Moving Average Converg./Diverg. (MACD) -3.91
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 222.84
Yearly Trendline Support 200.74
Monthly Trendline Resistance 195.58
Upper Bollinger Band 191.22
Daily Stochastic Crossing 187.89
Price 185.94
Parabolic System 184.12
20 Day Moving Average 181.82
Weekly Stochastic Crossing 181.77
50 Day Moving Average 176.48
Lower Bollinger Band 173.12
Monthly Trendline Support 161.97
Sector and Industry
Description Name Rank
Sector Healthcare 7
Industry Biotechnology 68
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 166.68
Low Date 05/31/2019
High 189.42
High Date 07/03/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 166.30
Low Date 05/15/2019
High 189.42
High Date 07/03/2019
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 195.58
Support 161.97
High 210.19
High Date 09/27/2018
Low 166.30
Low Date 05/15/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 222.84
Support 142.11
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 223.41
Support 200.74
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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