Amgen may fall to 287.00 - 295.00

Our pivot point is at 334.

Our preference

Target 295.

Alternative scenario

The upside breakout of 334 would call for 347 and 355.

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 below its 20 day moving average (330.3335) but above its 50 day moving average (318.5982).

Supports and resistances

355 **

347 *

334 **

329

320 (USD-last)

303

295 **

287 *

280 **

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