Amgen may rise to 351.00 - 357.00

319 is our pivot point.

Our preference

The upside prevails as long as 319 is support.

Alternative scenario

Below 319, expect 309 and 304.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 312.393 and 308.1006). Finally, Amgen has crossed above its upper daily Bollinger band (328.49).

Supports and resistances

362 **

357 *

351 **

345

330.83 (USD-last)

322

319 **

309 *

304 **

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