The Swing trader: Top High-Volatility Stocks v.2 (TA) AI trading robot has demonstrated its prowess once again, delivering impressive gains of +4.43% while trading AMGN (Amgen) over the previous week. This article will delve into the recent earnings results of AMGN and analyze the potential implications for traders.
Analyzing Earnings Results:
AMGN's latest earnings report, released on April 27, showcased the company's strong performance, surpassing expectations with earnings per share (EPS) of $3.98 compared to the estimated $3.82. This positive surprise indicates the company's ability to generate robust profits and highlights its potential for growth.
With 41.92K shares outstanding, AMGN's current market capitalization stands at an impressive $122.14 billion. This figure reflects the market's valuation of the company based on its outstanding shares and demonstrates AMGN's substantial presence in the pharmaceutical industry.
Aside from the encouraging earnings results, technical indicators also suggest a potential shift in AMGN's stock trend. On June 2, 2023, the Relative Strength Index (RSI) Oscillator for AMGN moved out of oversold territory. This development indicates that the stock may be transitioning from a downward trend to an upward trend, presenting an opportunity for traders.
To further analyze this shift, the A.I.dvisor examined 32 instances when the RSI indicator left oversold territory. In 20 out of those 32 cases, the stock price moved higher. This statistical observation implies that the probability of AMGN moving higher after leaving oversold territory is approximately 62%.
Implications for Traders:
Considering the positive earnings report, with AMGN surpassing EPS estimates, combined with the technical analysis indicating a potential shift in the stock's trend, traders may view this as an opportune moment. The positive earnings results and the RSI indicator's movement out of oversold territory provide a favorable backdrop for considering investment in AMGN, either through buying the stock or call options.
The 10-day RSI Oscillator for AMGN moved out of overbought territory on September 21, 2023. This could be a sign that the stock is shifting from an upward trend to a downward trend. Traders may want to look at selling the stock or buying put options. Tickeron's A.I.dvisor looked at 35 instances where the indicator moved out of the overbought zone. In of the 35 cases the stock moved lower in the days that followed. This puts the odds of a move down at .
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 63 cases where AMGN's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where AMGN declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
AMGN broke above its upper Bollinger Band on September 20, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for AMGN entered a downward trend on September 18, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Momentum Indicator moved above the 0 level on September 14, 2023. You may want to consider a long position or call options on AMGN as a result. In of 80 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for AMGN just turned positive on September 19, 2023. Looking at past instances where AMGN's MACD turned positive, the stock continued to rise in of 43 cases over the following month. The odds of a continued upward trend are .
The 50-day moving average for AMGN moved above the 200-day moving average on September 08, 2023. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where AMGN advanced for three days, in of 305 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: AMGN's P/B Ratio (21.053) is slightly higher than the industry average of (6.139). P/E Ratio (17.986) is within average values for comparable stocks, (31.865). Projected Growth (PEG Ratio) (2.028) is also within normal values, averaging (3.317). Dividend Yield (0.031) settles around the average of (0.028) among similar stocks. P/S Ratio (5.397) is also within normal values, averaging (3.735).
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 67, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. AMGN’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a manufacturer of human therapeutic products based on cellular biology
A.I.dvisor indicates that over the last year, AMGN has been loosely correlated with GILD. These tickers have moved in lockstep 53% of the time. This A.I.-generated data suggests there is some statistical probability that if AMGN jumps, then GILD could also see price increases.