Amgen may fall to 290.00 - 296.00

Our pivot point stands at 329.

Our preference

The downside prevails as long as 329 is resistance.

Alternative scenario

The upside breakout of 329 would call for 340 and 347.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 326.1245 and 326.6516).

Supports and resistances

347 **

340 *

329 **

324

317.68 (USD-last)

303

296 **

290 *

283 **

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