Amgen Inc. Stock Forecast
Amgen Inc. stock price ended at $273.01 on Wednesday, after losing 0.194%.
(Updated on Apr 24, 2024)
The Amgen Inc. stock price fell by -0.194% on the last day (Wednesday, 24th Apr 2024) from $273.54 to $273.01. During the last trading day the stock fluctuated 1.93% from a day low at $269.65 to a day high of $274.86. The price has been going up and down for this period, and there has been a 2.46% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -35 thousand shares and in total, 2 million shares were bought and sold for approximately $671.06 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.69% during the next 3 months and, with a 90% probability hold a price between $224.28 and $244.48 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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AMGN Signals & Forecast
The Amgen Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $268.55 and $272.97. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 3.90%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Amgen Inc. stock
Amgen Inc. finds support from accumulated volume at $272.86 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $5.21 between high and low, or 1.93%. For the last week, the stock has had daily average volatility of 1.81%.
Our recommended stop-loss: $260.48 (-4.59%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (AMGN) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Amgen Inc. to open at $272.50, and during the day (based on 14 day Average True Range), to move between $267.87 and $278.15, which gives a possible trading interval of +/-$5.14 (+/-1.88%) up or down from last closing price. If Amgen Inc. takes out the full calculated possible swing range there will be an estimated 3.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $272.86 (0.05%) than the resistance at $273.83 (0.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Amgen Inc. will release earnings AMC on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $3.75. We will update the financials statements for Amgen Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.10% in the first trading day after earnings release.
Is Amgen Inc. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.892 Buy Candidate Unchanged
Predicted Opening Price for Amgen Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $272.50 ( 0.185%) | $273.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMGN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 277.72 | 1.72 % | |
| R2 | 275.73 | 0.99 % | ||
| R1 | 274.50 | 0.544 % | ||
| Current price: | 273.01 | |||
| Support | S1 | 270.51 | -0.91 % | |
| S2 | 269.28 | -1.37 % | ||
| S3 | 267.29 | -2.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 295.87 | 8.37 % | |
| R2 | 294.85 | 8.00 % | ||
| R1 | 273.83 | 0.300 % | ||
| Current price | 273.01 | |||
| Support | S1 | 272.86 | -0.0549% | |
| S2 | 270.90 | -0.773% | ||
| S3 | 268.87 | -1.52% |
AMGN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 06, 2024 | May 16, 2024 | Jun 07, 2024 | $2.25 | 0.82% |
| 2 | Dec 12, 2023 | Feb 16, 2024 | Mar 07, 2024 | $2.25 | 0.82% |
| 3 | Dec 12, 2023 | Feb 15, 2024 | Mar 07, 2024 | $2.25 | 0.82% |
| 4 | Oct 24, 2023 | Nov 16, 2023 | Dec 08, 2023 | $2.13 | 0.791% |
| 5 | Aug 01, 2023 | Aug 17, 2023 | Sep 08, 2023 | $2.13 | 0.82% |
FAQ
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