Amgen raises 2026 EPS, revenue guidance as Q2 beats on both lines
Amgen reported strong performance in the second quarter, leading to an upward revision of its EPS and revenue guidance for 2026.
Despite the stock price showing an upward trend following strong earnings and an upward guidance revision, the current price is approaching the resistance level of $398.00, so it is advisable to carefully assess the potential for a breakout before considering an entry.
If the stock price continues to break above the upper limit, I will take profits at $398.0, and if the support level breaks down, I will cut losses at $353.95.
The RSI(14) is at 67.6, approaching the overbought range, with moving averages in a positive alignment, trading volume at 1.47 times the 20-day average, and a recent 7-day volatility of +2.0%.
At the time of the forecast, the stock price was approaching the resistance level of $398.00 with an RSI of 67.6, leading to a cautious observation regarding a potential breakout. However, the actual result showed an overhit, recording a high return of 13.4%, significantly exceeding the anticipated return of 2.0%. The strong performance and upward guidance, which are fundamental positives, were not fully reflected in the trading volume, which was 1.47 times the 20-day average, and the momentum of the moving averages in a bullish arrangement, indicating that the approach was somewhat conservative despite the strong continuation of the trend following the breakout of the resistance level.
When the stock price is near a major resistance level, rather than simply being cautious of the difficulty in breaking through, I will flexibly consider the possibility of a significant upward movement if there is strong trend energy, such as trading volume exceeding the 20-day average and the moving averages being in a positive arrangement. Therefore, I will adjust the target price range to be slightly wider from the next trading session.