Amgen may rise to 347.00 - 355.00

Our pivot point stands at 311.

Our preference

Short term rebound towards 347.

Alternative scenario

The downside breakout of 311 would call for 299 and 292.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the share stands below its 20 and 50 day moving average (respectively at 322.8755 and 325.9016).

Supports and resistances

362 **

355 *

347 **

340

321.33 (USD-last)

316

311 **

299 *

292 **

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