Amgen’s chart continues to form higher highs with the 20‑day EMA above the 50‑day EMA, supporting a bullish technical bias. Fundamentally, Q3 guidance shows ~7% YoY revenue growth and EPS expansion, reinforcing the upside.

Investor sentiment remains optimistic, with recent analyst upgrades and strong demand for biosimilars driving buying pressure. The upcoming earnings are expected to beat estimates, keeping the bullish momentum intact.

While Amgen’s pipeline de‑risking and dividend consistency lower long‑term risk, valuation still trades above peers, implying modest upside. Potential regulatory headwinds and market concentration risk remain, but the long‑term thesis stays bullish.

The MACD turned positive on the daily timeframe and volume has risen 12% above its 30‑day average, indicating strength. RSI sits near 65, suggesting continued upward momentum without overbought exhaustion.