The Greedy Trader Weekly Analysis
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Weekly Pattern:Rising Channel
Number of records: 2
Symbol:  

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Channeling Stock - rising channel and falling channel.
Stock channeling technique is one of the most efficient and widely used trading technique. Price channel represents price movement bound by parallel lower (support) and upper (resistance) trend lines. Channels with rising trend lines (rising channel) are considered bullish and the falling channel is considered as bearish . Channels are continuation formations as far as support and resistance are not broken.
Trading technique:
# 1
Buy channeling stock on support and sell on resistance.
# 2 For bullish channel: sell channeling stock when price breakes the stock channeling support line. For bearish channel: buy channeling stock when price breaks the resistance line.
Tips:
# 1 For the best results, stock channeling should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.
channeling stock,stock channeling,rising channel,falling channel,Price Channel
Amgen
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Summary:
Weekly :Overbought sectorTrend support at 191.38Price is near the Fibonacci 38.2% retracement level
Daily :Bearish Three Inside Down CandlestickDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SAR
Move cursor over the icon to see details.

It was a second consecutive positive week for the Amgen (AMGN). During the week, the AMGN gained 6.10 points, or 3.26%, and closed at 193.16 on Friday, November 09, 2018. It was the best weekly gain since July 6, 2018. Weekly volume was -20% 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 price is near the trend support (191.38) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.

Medium-term trend: [See AMGN medium-term trend chart]
A medium-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 25 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

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. The distance between MACD and the signal line is relatively high and getting bigger. 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 27, 2018 at 210.19 and reached 181.31 on October 25, 2018. AMGN lost 28.88 points, or 13.74%, in 28 days. The price is now at the 41.03% retracement level.

Daily Technical Indicators: [See AMGN daily technical indicators chart]
Daily technical indicators are neutral.

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.

Candlestick pattern: [See AMGN candlestick chart pattern]
On Friday the chart has formed a Bearish Three Inside Down Candlestick pattern. The Bearish Three Inside Down pattern is another name for the Confirmed Bearish Harami pattern. This is a trend-reversal pattern indicating the start of a new downtrend. The reliability of the Bearish Three Inside Down pattern is very high. Use the Technical Stock Screener to see the list of stocks that had a Bearish Three Inside Down Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.96
Williams' Percentage Range (W%R) 40.90
Lane's Stochastic (%D-Slow) 72.06
Greed/Fear Indicator (GFI) 58.36
Moving Average Converg./Diverg. (MACD) -2.54
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.13
Williams' Percentage Range (W%R) 51.30
Lane's Stochastic (%D-Slow) 37.84
Greed/Fear Indicator (GFI) 45.04
Moving Average Converg./Diverg. (MACD) 4.90
Trading Signals
Description Value Chart
Yearly Trendline Resistance 214.05
Upper Bollinger Band 205.44
50 Day Moving Average 199.17
Daily Stochastic Crossing 195.43
20 Day Moving Average 194.02
Price 193.16
Weekly Stochastic Crossing 191.53
Yearly Trendline Support 191.38
Lower Bollinger Band 183.43
Parabolic System 182.47
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Biotechnology 70
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 Uptrend
Status
Resistance
Support
Low 163.31
Low Date 04/02/2018
High 210.19
High Date 09/27/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
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 Test Support
Resistance 214.05
Support 191.38
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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