Amgen may rise to 348.00 - 360.00

289 is our pivot point.

Our preference

As long as 289 is support look for 348.

Alternative scenario

The downside breakout of 289 would call for 269 and 258.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 301.442 and 284.085).

Supports and resistances

372 **

360 *

348 **

336

306.5 (USD-last)

297

289 **

269 *

258 **

Number of asterisks represents the strength of support and resistance levels.