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S&P 500 Overbought StocksArchive - 5/17/2024 - Sign In to see current Signals. |
Amgen (AMGN) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a first positive week for the Amgen (AMGN). During the week, the AMGN climbed 2.32 points, or 0.75%, and closed at 312.47 on Friday, May 17, 2024. Weekly volume was -16% 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 329.72 on February 5, 2024. AMGN gained -290.56 points, or -741.98%, in 828 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 228.48 and resistance is at 332.21. 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 downtrend had started on February 5, 2024 at 329.72 and reached 260.68 on April 19, 2024. AMGN lost 69.04 points, or 20.94%, in 10 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (254.44) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. AMGN may retest the broken resistance line. It is considered to be a support line now. 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. During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. 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 19, 2024 at 260.68 and reached 322.60 on May 3, 2024. AMGN gained -61.92 points, or -23.75%, in 14 days. The price is now at the 16.36% 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 April 19, 2024. This is an indication that the short-term trend is up. 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. The distance between the Bollinger Bands is 132.94% higher then one year average. It indicates the period of high volatility of the stock price. 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.
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