Amgen (AMGN) Just Flashed Golden Cross Signal: Do You Buy?

Technical Analysis - Amgen Inc. (AMGN) has reached a significant support level and is considered a good pick for investors from a technical perspective due to a "golden cross" formation, where the 50-day simple moving average has broken above the 200-day moving average [1] - A golden cross is a bullish chart pattern indicating a potential breakout, characterized by a short-term moving average crossing above a long-term moving average [1][2] Market Performance - AMGN has moved 7.9% higher over the last four weeks, suggesting a positive trend [3] - The company currently holds a 3 (Hold) rating on the Zacks Rank, indicating a neutral outlook [3] Earnings Expectations - There have been 6 upward revisions in earnings expectations for the current quarter, with no downward revisions in the past 60 days, which supports the bullish sentiment [3] - The Zacks Consensus Estimate for earnings has also increased, further reinforcing the positive outlook for AMGN [3][4] Investment Outlook - With a combination of favorable earnings estimate revisions and a key technical level being hit, AMGN is positioned for potential gains in the near future [4]