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Biotechnology Industry Stocks Technical Analysis - AMGNArchive
- 4/17/2025 -
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Amgen (AMGN) Technical Analysis
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| Summary:
| | | Weekly : | | Daily : 
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| | It was the negative week for the Amgen (AMGN). During the week, the AMGN dropped -8.71 points, or -3.05%, and closed at 277.29 on Thursday, April 17, 2025. Weekly volume was 11% 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 346.85 on July 25, 2024. AMGN gained -307.69 points, or -785.73%, in 853 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 239.08 and resistance is at 347.66. 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 uptrend had started on December 1, 2021 at 198.64 and reached 346.85 on July 25, 2024. AMGN gained -148.21 points, or -74.61%, in 138 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 228.08 and resistance is at 368.31. 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 medium-term trend.
 Weekly Technical Indicators: [See AMGN weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since February 7, 2025. 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 December 19, 2024 at 253.30 and reached 335.90 on March 10, 2025. AMGN gained -82.60 points, or -32.61%, in 81 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (342.97) 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 short-term trend.
 Daily Technical Indicators: [See AMGN daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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 below its signal line since March 12, 2025.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Health Care |
7 |
| Industry |
Biotechnology |
61 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Wedge |
| High |
335.90 |
| High Date |
03/10/2025 |
| Low |
267.40 |
| Low Date |
04/09/2025 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Channel |
| Status |
Broken Support |
| Resistance |
367.35 |
| Support |
342.97 |
| Low |
253.30 |
| Low Date |
12/19/2024 |
| High |
335.90 |
| High Date |
03/10/2025 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
346.85 |
| High Date |
07/25/2024 |
| Low |
253.30 |
| Low Date |
12/19/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Valid |
| Resistance |
368.31 |
| Support |
228.08 |
| Low |
198.64 |
| Low Date |
12/01/2021 |
| High |
346.85 |
| High Date |
07/25/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Valid |
| Resistance |
347.66 |
| Support |
239.08 |
| Low |
39.16 |
| Low Date |
03/20/2008 |
| High |
346.85 |
| High Date |
07/25/2024 |
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