Swing Trading Opportunity: Amgen (AMGN) Dividend Play ($2.13 per share) on June 08, 2023.
Swing trading involves capturing short-term price movements in stocks, and taking advantage of market fluctuations. In this article, we will analyze Amgen (AMGN), a high-capitalization stock, and explore a potential swing trading opportunity surrounding its upcoming dividend payment. By understanding the dividend schedule and its implications for traders, we can assess the potential for capitalizing on this event.
Amgen (AMGN) has announced a dividend payment of $2.13 per share, scheduled to be paid on June 08, 2023. The record date for this dividend is also June 08, 2023, while the ex-dividend date is set for May 17, 2023. It is important to note that the ex-dividend date is typically set a few business days before the record date.
For swing traders interested in Amgen (AMGN), the ex-dividend date is a crucial factor to consider. The ex-dividend date serves as a cut-off point determining who is entitled to receive the upcoming dividend payment. If shares are purchased on or after the ex-dividend date (May 17, 2023, in this case), the buyer will not be eligible to receive the dividend payment. Instead, the dividends are retained by the seller. However, if the stocks are purchased before the ex-dividend date, the buyer will be entitled to receive the dividend.
AMGN in downward trend: price dove below 50-day moving average on May 01, 2023
AMGN moved below its 50-day moving average on May 01, 2023 date and that indicates a change from an upward trend to a downward trend. In of 49 similar past instances, the stock price decreased further within the following month. The odds of a continued downward trend are .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on April 20, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on AMGN as a result. In of 86 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The 10-day moving average for AMGN crossed bearishly below the 50-day moving average on May 04, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 21 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over 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 .
The Aroon Indicator for AMGN entered a downward trend on May 26, 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.
Bullish Trend Analysis
The RSI Indicator demonstrates that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 8 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where AMGN advanced for three days, in of 311 cases, the price rose further within the following month. The odds of a continued upward trend are .
AMGN may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Fundamental Analysis (Ratings)
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 (21.692) is slightly higher than the industry average of (6.199). P/E Ratio (14.749) is within average values for comparable stocks, (30.267). Projected Growth (PEG Ratio) (1.184) is also within normal values, averaging (3.530). Dividend Yield (0.038) settles around the average of (0.027) among similar stocks. P/S Ratio (4.454) is also within normal values, averaging (4.057).
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 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 59, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. AMGN’s price grows at a lower 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 worse than 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.
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
