The Greedy Trader Weekly Analysis
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Amgen (AMGN)

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Summary:
Weekly :Oversold industry
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARLane's Stochastic is oversoldBullish Doji Star CandlestickThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Amgen (AMGN). During the week, the AMGN dropped -14.19 points, or -5.98%, and closed at 223.17 on Friday, November 20, 2020. Weekly volume was -11% below average.

AMGN is a member of Biotechnology Industry. Biotechnology is the third most oversold industry. 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 264.97 on July 6, 2020. AMGN gained -225.81 points, or -576.63%, in 641 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 193.84 and resistance is at 270.98. 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 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 264.97 on July 6, 2020. AMGN gained -134.88 points, or -103.68%, in 249 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 180.88 and resistance is at 245.90. 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 September 4, 2020. 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 September 3, 2020 at 260.06 and reached 210.28 on October 29, 2020. AMGN lost 49.78 points, or 19.14%, in 56 days. The chart has formed a Broadening Descending Wedge chart pattern.

Daily Technical Indicators: [See AMGN daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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.

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

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 declined below 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.

Candlestick pattern: [See AMGN candlestick chart pattern]
On Friday the chart has formed a Bullish Doji Star Candlestick pattern. The reliability of the Bullish Doji Star pattern is moderate. Use the Technical Stock Screener to see the list of stocks that had a Bullish Doji Star Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.60
Williams' Percentage Range (W%R) 63.60
Lane's Stochastic (%D-Slow) 16.72
Oversold
Greed/Fear Indicator (GFI) 35.57
Moving Average Converg./Diverg. (MACD) -1.31
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 41.77
Williams' Percentage Range (W%R) 76.30
Lane's Stochastic (%D-Slow) 28.60
Greed/Fear Indicator (GFI) 31.65
Moving Average Converg./Diverg. (MACD) 2.90
Trading Signals
Description Value Chart
Upper Bollinger Band 246.93
Quarterly Trendline Resistance 245.90
Parabolic System 243.76
50 Day Moving Average 237.06
20 Day Moving Average 228.51
Weekly Stochastic Crossing 227.02
Price 223.17
Daily Stochastic Crossing 223.16
Lower Bollinger Band 215.44
Yearly Trendline Support 193.84
Monthly Trendline Support 185.55
Quarterly Trendline Support 180.88
Sector and Industry
Description Name Rank
Sector Health Care 4
Industry Biotechnology 3
Daily Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
High 260.06
High Date 09/03/2020
Low 210.28
Low Date 10/29/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 264.97
High Date 07/06/2020
Low 210.28
Low Date 10/29/2020
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 279.26
Support 185.55
Low 166.30
Low Date 05/15/2019
High 264.97
High Date 07/06/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 245.90
Support 180.88
Low 130.09
Low Date 09/28/2015
High 264.97
High Date 07/06/2020
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 270.98
Support 193.84
Low 39.16
Low Date 03/20/2008
High 264.97
High Date 07/06/2020
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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