AMGEN Nearing a Breakout—Is It Time to Act?Is AMGN on the Verge of a Major Move?
With Amgen Inc. (NASDAQ: AMGN) currently trading at $287.38, the stock is hovering close to key resistance at $294.65, a level that could dictate its next big move. Despite sitting 17% below its historical high of $346.85, AMGN has rallied significantly from its absolute low of $211.71, reflecting a 35% rebound.
Technical indicators suggest the stock is approaching a crucial inflection point. The RSI14 at 59.99 shows the stock is nearing overbought conditions but hasn't crossed the threshold yet, while the MFI at 64.63 hints at strong money flow. Moving averages are aligned bullishly, with MA50 at $283.00, MA100 at $279.02, and MA200 at $272.19, all supporting the uptrend.
However, recent "Sell Volumes Take Over" patterns indicate increased selling pressure near highs, creating potential short-term volatility. Will buyers absorb the selling and push AMGN through resistance, or is the stock setting up for a reversal? With macroeconomic uncertainty and biotech sector sentiment playing a role, this could be a make-or-break moment for AMGN traders and investors.
The big question—are you positioned for what’s next?
AMGN Price Roadmap: Decoding Market Moves Step by Step
Tracking AMGN’s price action through pattern recognition gives traders an edge in predicting potential moves. Let’s break down the most relevant patterns that played out successfully, confirming their main direction.
1. January 27, 2025 - Buy Volumes Take Over (Sell Direction Ignored)
Price opened and closed at $282, but despite a 6.35% range, the bearish move wasn't confirmed. Instead, we saw an influx of Buy Volumes Max just hours later, setting the stage for an upward move.
2. January 28, 2025 - Increased Buy Volumes (Confirmed Uptrend)
The Buy Volumes Max pattern held strong, with price climbing to a high of $283.22 before consolidating. This confirmed that the previous sell pattern failed, while buyers took control.
3. January 31, 2025 - Sell Volumes Take Over (Bearish Shift Confirmed)
Price action showed heavy selling pressure, with a range of $285.42 - $287.11. The next pattern, Increased Sell Volumes, validated the bearish momentum, confirming a 4.71% decline shortly after.
4. February 1, 2025 - Increased Sell Volumes (Downtrend Holds)
The continuation of high sell volumes pushed AMGN down to $284.92, confirming a successful transition from the previous Sell Volumes Takeover pattern. Traders caught in longs at resistance likely got shaken out, while aggressive sellers dominated the flow.
What’s Next?
With AMGN testing key resistance near $287, the next pattern will be crucial. A break above resistance could invalidate the current bearish structure, while a failure to hold recent highs could send price back toward the $280 zone. Watch the order flow carefully—the next move could be explosive.
Technical & Price Action Analysis: Key Levels to Watch
In trading, levels are everything. If a support doesn’t hold, it flips into resistance—same story in reverse. Here’s what we’re watching right now on AMGN:
Support Levels to Catch a Bid
259.29 – First real demand zone; buyers need to step in here.
252.45 – If this level doesn’t hold, expect liquidity grabs below.
251.47 – Close to the danger zone, where panic selling could accelerate.
248.56 – Bulls’ last line of defense before a major flush.
231.50 – If we see this, something bigger is at play.
Resistance Levels That Must Break for Upside
294.65 – First stop for any real breakout traders.
300.00 – Psychological round number, algos are watching.
318.54 – Mid-term target if we get momentum.
328.35 – A key pivot for long-term positioning.
330.92 – Break above here, and we’re in new territory.
Power Levels – Where Big Money Is Positioned
Support that Must Hold:
297.91 – If lost, could act as strong resistance on retest.
325.91 – Major liquidity zone, failure here signals deep correction.
333.15 – Last line before heavy trend Trading Strategies Based on Rays: Key Scenarios & Setups
The VSA Rays mapped on the chart serve as the foundation for our trading framework. These Fibonacci-based dynamic levels define zones of interaction, where price has two choices—continue the trend or reverse. Positions should only be considered after price interaction with the rays and the confirmation of a directional move.
Each price move progresses from ray to ray, establishing first, second, and third targets for trades. Moving Averages further refine these levels, acting as dynamic support and resistance zones.
📈 Optimistic Scenario: Trend Continuation & Breakout Play
If price successfully interacts with the MA50 ($283.00) and MA100 ($279.02) and bounces off a VSA ray, we are looking at a bullish continuation.
First target: $294.65 (Initial breakout zone)
Second target: $300.00 (Psychological and technical resistance)
Third target: $318.54 (Longer-term target for swing traders)
Key trigger: Confirmation above the breakout ray + moving average support. A strong close above these levels increases the probability of a trend continuation.
📉 Pessimistic Scenario: Rejection & Breakdown Play
If price interacts with $294.65 but fails to break through, then a reversal setup is in play.
First target: $259.29 (Initial support zone)
Second target: $252.45 (Key demand level)
Third target: $231.50 (Bearish exhaustion zone)
Key trigger: Rejection at resistance ray + moving average failure. If price fails to hold MA50 ($283.00) or MA100 ($279.02), it signals a deeper correction.
🔥 Trade Setups Based on Key Levels
Breakout Buy above $294.65 → Target $300.00, $318.54
Reversal Short from $294.65 → Target $283.00, $259.29
Bounce Buy from $259.29 → Target $294.65, $300.00
Sell on Breakdown below $259.29 → Target $252.45, $231.50
Resistance That Could Reject Hard:
244.25 – Hidden selling pressure waiting above.
227.79 – Institutional sell wall if price wicks up.
If these support levels get sliced through, expect them to flip into resistance, trapping weak hands and fueling the next move. Keep stops tight—this game isn’t for the faint-hearted.
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