Did you miss the 5% increase in Amgen? What you need to know now is as follows! | Do not ignore this chart!

On Wednesday morning, the market was shaken as a cautious transaction overall, except for Dow, which surpasses S & P 500 and NASDAQ. Finding stocks showing power in uncertainty, I Market trigger My tool dashboard. What I found attracted my attention.

Figure 1. Market Movement Tool. AMGN, the third on the floor, was interested because it was seen in the scan of quite a lot of stockcharts.Image Source: Stockcharts.com. For educational purposes.

The medical sector has been shown in various scans over the past week Amgen, Inc. (AMGN) has been in my radar for quite some time because of some progress I follow.

At first, I changed because I had to get a wider view. Marketcarpets Expansion of one -day performance in the medical sector.

Figure. Market carpet in the medical sector. Pay attention to AMGN at the top of the list on the right table.Image Source: Stockcharts.com. For educational purposes.

Despite the FDA for the FDA for obesity drug tests, Amgen’s stocks surged more than 5% (top of the table). In addition, the sales volume of repatha has surged 45%, and the promising weight loss drug maritide is taught in the second half of 2012.

At this point, I wanted a clear picture of how AMGN accumulated about my colleagues. I compared the achievements with a wide range of medical markets (XLVs) using the Biotechnology Industry ($ DJUSBT), the Pharmaceutical ($ DJUSPR) and Perfcharts. What I have gained is:

Figure 3 ,. Perfchart compares the medical sector and biotechnology and pharmaceutical industry and amgen. One -year comparison look shows that AMGN drags greatly.Chart Source: Stockcharts.com. For educational purposes.

Over the past year, AMGN has achieved a lot of achievements in the industry and broad sectors. Wednesday meetings show strong optimism of weak prospects.

Let’s see AMGN’s price measures in the long run and analyze the weekly chart.

Figure 4. Weekly chart of Amgn. Note how the price was 100- and 200-period EMA.Chart Source: Stockcharts.com. For educational purposes.

In the last five years, AMGN’s fluctuations have been volatile, but the fundamental trend has been relatively steady and optimistic. Note how the price of AMGN has respected the 100 period and 200 rider index moving average. (Not so). Also note how this epidemiology is captured by probability loop oscillator.This reflects the upward bounce in the radiation range under the 20 -stage signal purchase pressure. Based on the current reading value, the indicator suggests that the indicator rarely reaches 50 lines, and that if AMGN maintains its strength, there is plenty of space to execute before it is in the excuse area.

But let’s switch to the chart every day, as things may look different every day..

Figure.. AMGN’s daily chart. Look at the level of support and resistance of entry and outlet points.Chart Source: Stockcharts.com. For educational purposes.

Following the steep descendation in November, AMGN coincided with the lowest level in April 2024 with the support of $ 257.50 next month. The level was tested twice before the sharp rally from Wednesday’s price ranges to peak.

Balance volume (OBV) shows a strong purchase pressure on a surge. Relative robbery (RSI) suggests that the current swing has been excessive. If you consider the trajectory of the movement, the driving force will be stagnant, and the price will withdraw the next few sessions again.

Main level to watch:

Upward resistance:

• AMGN represents the resistance of $ 310 and $ 327.50, indicating the lower limit and upper limit of the most recent integration range.

Disadvantages:

• If AMGN resigns back before violating this resistance level, it is $ 291, which is held several times from May to June 2024, and you can see the powerful purchase interest.
• The second level of support is $ 275, which is low in November.

If the price drops to less than $ 275, this failure can be informed of technical (and basic) momentum, which makes the possibility of reversal.

Nearby

AMGN is another relatively expensive stock. In this case, you may want to see the option play strategy center. Find an alternative strategy that fits better for capital resources and risk allowing errors. AMGN’s recent rally is impressive but raises important questions about sustainability. If AMGN is not interested, you can find similar stocks using the tool mentioned above. However, the main level described above will help you guide you from the analysis.

disclaimer: This blog is used only for educational purposes and should not be interpreted as fiscal advice. You should not use ideas and strategies without evaluating your personal and financial situations first or consulting financial experts.