Amgen may fall to 289.00 - 297.00

335 is our pivot point.

Our preference

Target 297.

Alternative scenario

The upside breakout of 335 would call for 348 and 355.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is trading under its 20 day moving average (329.202) but above its 50 day moving average (319.2564).

Supports and resistances

355 **

348 *

335 **

330

322.73 (USD-last)

304

297 **

289 *

281 **

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