(Finance) – Effervescent Amgen, which trades with a decidedly positive performance of 12.56%. The biotech group announced that its anti-obesity drug has recorded encouraging data in a mid-phase study.
Comparing the performance of the stock with the Dow Joneson a weekly basis, we notice that the pharmaceutical company maintains positive relative strength in comparison with the index, demonstrating a greater appreciation by investors compared to the index itself (weekly performance +16.33%, compared to +1.6% of theAmerican index).
The short-term technical status of Amgen highlights an expansion of the positive performance of the curve with the first area of resistance identified at USD 320.4. Risk of possible correction up to the 308.5 target. Expectations are for an increase in the bullish trendline towards the 332.4 resistance area.