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Amgen (AMGN) |
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Amgen (AMGN). During the week, the AMGN climbed 1.92 points, or 0.84%, and closed at 229.79 on Friday, March 17, 2023. It was the best weekly gain since January 6, 2023. Weekly volume was 32% above 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 296.67 on November 8, 2022. AMGN gained -257.51 points, or -657.58%, in 763 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 214.87 and resistance is at 312.37. 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 December 1, 2021 at 198.64 and reached 296.67 on November 8, 2022. AMGN gained -98.03 points, or -49.35%, in 48 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (238.00) 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 medium-term trend.
 Weekly Technical Indicators: [See AMGN weekly technical indicators chart]
Weekly Relative Strength Index and Williams' Percentage Range are oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Relative Strength Index and Williams' Percentage Range or strongly oversold weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is below its signal line since December 30, 2022. The distance between MACD and the signal line is near its high, but getting smaller. 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 March 9, 2023 at 225.40 and reached 237.27 on March 13, 2023. AMGN gained -11.87 points, or -5.27%, in 4 days. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See AMGN daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.
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.
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