Amgen Inc

After violating horizontal support with momentum and volume confirming downside, AMGN’s medium-term bias is bearish. The active Support Failure pattern signals further potential declines as broken support may now serve as resistance. Short-term conditions, with price below declining 9, 20, and 50 EMAs and deep oversold RSI, favor selling now. Long-term uptrend remains intact above the 200-day SMA, but near-term distribution calls for immediate execution to capture continuation of the downtrend.

• ↑Q2 2026 revenue $10.1B (+10% YoY) and EPS $6.29 topped estimates.
• ↑Full-year 2026 revenue guidance raised to $38.2–$39.4B on product strength.
• ↓Shares trade ~8% above $360 fair value estimate, risking correction.