The analysis of the stock you mentioned (AMGN) Daily Frame
suggests the presence of a rising wedge pattern, indicating a potential price correction after a false breakout. Here’s a breakdown of the points mentioned:
Rising Wedge Pattern: This type of pattern typically appears in bullish markets, but it can turn into a bearish reversal if the lower boundary of the wedge is broken.
False Breakout: A false breakout occurs when the stock briefly exceeds the upper boundary of the pattern but fails to sustain the upward momentum, leading to a price correction. If the lower boundary of the wedge is confirmed to be broken, this could signal the beginning of a downtrend.
Breaking the Rising Wedge: A confirmed break of the wedge suggests that the upward trend is over or may be in the process of reversing into a downward trend.
Sell from the Next Session: Based on this technical analysis, the plan is to enter a short position (sell) with a stop loss if the price rises above $338.5, which is identified as the upper resistance level.
Price Target: The suggested support levels where the stock could potentially drop to are between $213.64 and $203.
suggests the presence of a rising wedge pattern, indicating a potential price correction after a false breakout. Here’s a breakdown of the points mentioned:
Rising Wedge Pattern: This type of pattern typically appears in bullish markets, but it can turn into a bearish reversal if the lower boundary of the wedge is broken.
False Breakout: A false breakout occurs when the stock briefly exceeds the upper boundary of the pattern but fails to sustain the upward momentum, leading to a price correction. If the lower boundary of the wedge is confirmed to be broken, this could signal the beginning of a downtrend.
Breaking the Rising Wedge: A confirmed break of the wedge suggests that the upward trend is over or may be in the process of reversing into a downward trend.
Sell from the Next Session: Based on this technical analysis, the plan is to enter a short position (sell) with a stop loss if the price rises above $338.5, which is identified as the upper resistance level.
Price Target: The suggested support levels where the stock could potentially drop to are between $213.64 and $203.
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.