Amgen may rise to 329.00 - 335.00

Our pivot point stands at 299.

Our preference

As long as 299 is support look for 329.

Alternative scenario

The downside breakout of 299 would call for 290 and 284.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 307.8305 and 302.5084).

Supports and resistances

340 **

335 *

329 **

323

309.38 (USD-last)

302

299 **

290 *

284 **

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