Amgen may fall to 280.00 - 286.00

Our pivot point stands at 332.

Our preference

Under pressure below 332.

Alternative scenario

Above 332, look for 344 and 351.

Comment

The RSI is below its neutrality area at 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 both its 20 and 50 day moving average (respectively at 331.278 and 317.2058). Finally, Amgen is trading below its lower daily Bollinger band (standing at 320.46).

Supports and resistances

351 **

344 *

332 **

328

312.5 (USD-last)

293

286 **

280 *

273 **

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