AMG Technical Analysis - AMGEN INC

Technical Rating and Analysis

Overall AMG gets a technical rating of 5 out of 10. In the last year, AMG was a below average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.

87% of all other stocks performed better in the past year than AMG.

Warning: AMG has an average volume of 755 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.

The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.

AMG is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.

AMG is an average performer in the Biotechnology industry, it outperforms 61% of 79 stocks in the same industry.

AMG is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so AMG is lagging the market.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

AMG has only a medium technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 254.10. Right above this resistance zone may be a good entry point.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

228.58

305.12

2 important support areas can be observed.

A support zone ranging from 245.81 to 248.26. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A support zone ranging from 230.89 to 232.04. This zone is formed by a combination of multiple trend lines in multiple time frames.

When analyzing the resistance we notice 3 important areas.

A resistance zone ranging from 254.10 to 263.36. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @289.19 from a trend line in the weekly time frame.
Resistance @302.10 from a horizontal line in the weekly time frame.

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What is Support and Resistance

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Support and Resistance Screener and Trading Strategies

Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	NEUTRAL	NEUTRAL	The long term trend for AMG.DE is neutral.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for AMG.DE is up.
ChartMill Relative Strength	13.66	NEGATIVE	AMG.DE has a low relative strength, it was outperformed by 86.34% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of AMG.DE is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of AMG.DE is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	MIXED	The current price of AMG.DE is below the rising SMA(200).
Relative Strength Index/RSI (14)	54.69	NEUTRAL	The RSI value for AMG.DE is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.6	POSITIVE	The MACD value suggests AMG.DE has a positive trend, although the MACD value is declining.
Stochastics (14,3)	91.2	OVERBOUGHT	The high Stochastics value suggests AMG.DE may be overbought.
Average True Range in percent/ATR (20)	1.88	LOW VOLATILITY	The low ATR as a percentage value for AMG.DE suggests low volalility.
Average Directional Index/ADX (14)	15.96	NEGATIVE	The low ADX value for AMG.DE suggests a weak or negative trend.