Amgen may fall to 298.00 - 304.00

Our pivot point stands at 341.

Our preference

Target 304.

Alternative scenario

Above 341, look for 351 and 358.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is trading under its 20 day moving average (331.0845) but above its 50 day moving average (316.6236).

Supports and resistances

358 **

351 *

341 **

337

325.22 (USD-last)

310

304 **

298 *

292 **

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