The Greedy Trader Weekly Analysis
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Amgen
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Summary:
Weekly :Stochastic signal line moved below overbought areaWilliams' Percentage Range is oversoldBroken trend support lineTrend support at 175.61
Daily :Williams' Percentage Range and Lane's Stochastic are oversoldPrice has crossed below the 50 Day Moving Average
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It was the negative week for the Amgen (AMGN). During the week, the AMGN dropped -13.55 points, or -7.25%, and closed at 173.46 on Friday, February 09, 2018. Weekly volume was 116% 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 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 uptrend support line (180.34) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. AMGN may retest the broken support line. It is considered to be a resistance 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 support 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 price is near the trend support (175.61) 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 medium-term trend.

Weekly Technical Indicators: [See AMGN weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 and Williams' Percentage Range help.

The weekly MACD line is above its signal line since January 12, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 February 6, 2018 at 172.04 and reached 180.99 on February 7, 2018. AMGN gained -8.95 points, or -5.20%, in 1 days. The price is now at the 84.13% retracement level.

Daily Technical Indicators: [See AMGN daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic.

The daily MACD line is below its signal line since January 30, 2018. The distance between MACD and the signal line is near its high and getting bigger.

During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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) 28.42
Williams' Percentage Range (W%R) 82.20
Oversold
Lane's Stochastic (%D-Slow) 11.41
Oversold
Greed/Fear Indicator (GFI) 19.22
Oversold
Moving Average Converg./Diverg. (MACD) 0.79
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.02
Williams' Percentage Range (W%R) 81.90
Oversold
Lane's Stochastic (%D-Slow) 69.71
Greed/Fear Indicator (GFI) 46.25
Moving Average Converg./Diverg. (MACD) 2.56
Trading Signals
Description Value Chart
Yearly Trendline Resistance 203.01
Monthly Trendline Resistance 200.79
Upper Bollinger Band 196.72
Weekly Stochastic Crossing 189.49
20 Day Moving Average 185.99
Parabolic System 185.68
50 Day Moving Average 180.83
Yearly Trendline Support 180.34
Monthly Trendline Support 175.61
Price 173.46
Daily Stochastic Crossing 171.69
Lower Bollinger Band 168.22
Sector and Industry
Description Name Rank
Sector Healthcare 6
Industry Biotechnology 40
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 180.99
High Date 02/07/2018
Low 168.25
Low Date 02/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 172.04
Low Date 02/06/2018
High 180.99
High Date 02/07/2018
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Test Support
Resistance 200.79
Support 175.61
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 Broken Support
Resistance 203.01
Support 180.34
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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