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Yearly Pattern:Rising Channel
Number of records: 15
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
Archive
- 12/1/2017
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Amgen
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Summary:
Weekly :Broken trend support lineOversold sectorLane's Stochastic is oversoldTrend support at 177.61
Daily :The price touches the upper Bollinger BandPrice is close to the 50 Day Moving Average
Move cursor over the icon to see details.

It was a second positive week after 7 consecutive negative weeks for the Amgen (AMGN). During the week, the AMGN gained 7.08 points, or 4.16%, and closed at 177.20 on Friday, December 01, 2017. It was the best weekly gain since September 1, 2017. AMGN was trading at average weekly trading volume.

AMGN is a member of Healthcare Sector. Healthcare is the most oversold 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 191.10 on September 14, 2017. AMGN gained -151.94 points, or -388.00%, in 495 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (177.61) 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 May 23, 2017 at 152.16 and reached 191.10 on September 14, 2017. AMGN gained -38.94 points, or -25.59%, in 16 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (183.75) 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 Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly 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.

The weekly MACD line is below its signal line since October 27, 2017. 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 14, 2017 at 191.10 and reached 168.15 on November 20, 2017. AMGN lost 22.95 points, or 12.01%, in 67 days. The chart has formed a Broadening Descending Wedge chart pattern.

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

The daily MACD line is above its signal line since November 21, 2017.

The price touches the upper Bollinger Band. 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.

Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.57
Williams' Percentage Range (W%R) 38.10
Lane's Stochastic (%D-Slow) 74.49
Greed/Fear Indicator (GFI) 67.32
Moving Average Converg./Diverg. (MACD) -2.16
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 58.52
Williams' Percentage Range (W%R) 68.90
Lane's Stochastic (%D-Slow) 15.45
Oversold
Greed/Fear Indicator (GFI) 31.42
Moving Average Converg./Diverg. (MACD) 3.34
Trading Signals
Description Value Chart
Weekly Trendline Resistance 204.04
Yearly Trendline Resistance 200.28
Weekly Trendline Support 183.75
50 Day Moving Average 178.28
Yearly Trendline Support 177.61
Upper Bollinger Band 177.46
Price 177.20
Daily Stochastic Crossing 176.19
20 Day Moving Average 171.66
Weekly Stochastic Crossing 170.95
Parabolic System 170.57
Lower Bollinger Band 168.63
Sector and Industry
Description Name Rank
Sector Healthcare 1
Industry Biotechnology 14
Daily Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
High 191.10
High Date 09/14/2017
Low 168.15
Low Date 11/20/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 204.04
Support 183.75
Low 152.16
Low Date 05/23/2017
High 191.10
High Date 09/14/2017
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 133.64
Low Date 11/04/2016
High 191.10
High Date 09/14/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 130.09
Low Date 09/28/2015
High 191.10
High Date 09/14/2017
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 200.28
Support 177.61
Low 39.16
Low Date 03/20/2008
High 191.10
High Date 09/14/2017
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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