Amgen may rise to 344.00 - 351.00

Our pivot point stands at 310.

Our preference

Short term rebound towards 344.

Alternative scenario

The downside breakout of 310 would call for 298 and 291.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 322.0895 and 325.841).

Supports and resistances

358 **

351 *

344 **

337

321.66 (USD-last)

315

310 **

298 *

291 **

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