Amgen may rise to 351.00 - 357.00

Our pivot point stands at 319.

Our preference

The upside prevails as long as 319 is support.

Alternative scenario

Below 319, expect 309 and 304.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 312.393 and 308.1006). Finally, Amgen is trading above its upper Bollinger band (standing at 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.