AMGN Technical Analysis - AMGEN INC

Technical Rating and Analysis

We assign a technical rating of 0 out of 10 to AMGN. AMGN scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.

The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.

83% of all other stocks performed better in the past year than AMGN.

AMGN has an average volume of 2167290 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

AMGN is part of the Biotechnology industry. There are 538 other stocks in this industry, AMGN did better than 49% of them.

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

In the last month AMGN has a been trading in the 271.61 - 297.88 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Volume is considerably higher in the last couple of days.

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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

AMGN has a poor technical rating and the quality of the setup is also not perfect at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

255.99

338.20

We found 3 important support areas.

Support @272.44 from a horizontal line in the daily time frame.
Support @267.28 from a horizontal line in the weekly time frame.
A support zone ranging from 258.58 to 261.57. 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 288.29 to 301.22. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 306.59 to 310.25. This zone is formed by a combination of multiple trend lines in the weekly time frame.
Resistance @334.85 from a horizontal line in the weekly time frame.

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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	DOWN	NEGATIVE	The long term trend for AMGN is down.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for AMGN is neutral.
ChartMill Relative Strength	17.76	NEGATIVE	AMGN has a low relative strength, it was outperformed by 82.24% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	MIXED	The current price of AMGN is above a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of AMGN is below a declining SMA(50).
Simple Moving Average/SMA (200)	UP	MIXED	The current price of AMGN is below the rising SMA(200).
Relative Strength Index/RSI (14)	52.14	NEUTRAL	The RSI value for AMGN is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.16	POSITIVE	The MACD value suggests AMGN has a positive trend.
Stochastics (14,3)	41.1	NEUTRAL	The Stochastics value for AMGN is a neutral value.
Average True Range in percent/ATR (20)	1.81	LOW VOLATILITY	The low ATR as a percentage value for AMGN suggests low volalility.
Average Directional Index/ADX (14)	21.86	NEUTRAL	The ADX value for AMGN suggests a possible start of a new trend.