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Yearly Pattern:Rising Channel
Number of records: 15
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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
- 8/10/2018
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Amgen
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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtStochastic has declined below the signal lineLane's Stochastic bearish divergence
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARThe price is close to the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was the negative week for the Amgen (AMGN). During the week, the AMGN dropped -3.57 points, or -1.80%, and closed at 194.42 on Friday, August 10, 2018. Weekly volume was -26% 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 201.23 on January 29, 2018. AMGN gained -162.07 points, or -413.87%, in 514 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 187.66 and resistance is at 210.33. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.

Medium-term trend: [See AMGN medium-term trend chart]
A medium-term uptrend had started on November 4, 2016 at 133.64 and reached 201.23 on January 29, 2018. AMGN gained -67.59 points, or -50.58%, in 64 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 189.48 and resistance is at 197.00. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See AMGN weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since June 1, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. 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 May 4, 2018 at 165.23 and reached 200.90 on August 7, 2018. AMGN gained -35.67 points, or -21.59%, in 95 days. The chart has formed a Rising Channel chart pattern.

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

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.

The price is close to 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 58.45
Williams' Percentage Range (W%R) 64.70
Lane's Stochastic (%D-Slow) 60.90
Greed/Fear Indicator (GFI) 51.54
Moving Average Converg./Diverg. (MACD) 2.30
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 79.03
Williams' Percentage Range (W%R) 20.20
Lane's Stochastic (%D-Slow) 85.40
Overbought Bearish
Greed/Fear Indicator (GFI) 75.66
Moving Average Converg./Diverg. (MACD) 2.55
Trading Signals
Description Value Chart
Yearly Trendline Resistance 210.33
Parabolic System 200.75
Upper Bollinger Band 199.50
Weekly Stochastic Crossing 197.62
Daily Stochastic Crossing 197.15
Monthly Trendline Resistance 197.00
Price 194.42
20 Day Moving Average 194.24
50 Day Moving Average 189.65
Monthly Trendline Support 189.48
Lower Bollinger Band 188.67
Yearly Trendline Support 187.66
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Biotechnology 151
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 165.23
Low Date 05/04/2018
High 200.90
High Date 08/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 163.31
Low Date 04/02/2018
High 200.90
High Date 08/07/2018
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 197.00
Support 189.48
Low 133.64
Low Date 11/04/2016
High 201.23
High Date 01/29/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 130.09
Low Date 09/28/2015
High 201.23
High Date 01/29/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 210.33
Support 187.66
Low 39.16
Low Date 03/20/2008
High 201.23
High Date 01/29/2018
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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