Amgen may fall to 254.00 - 265.00

Our pivot point is at 318.

Our preference

Target 265.

Alternative scenario

Above 318, look for 337 and 349.

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 (307.5245) but above its 50 day moving average (290.6844).

Supports and resistances

349 **

337 *

318 **

310

300.7 (USD-last)

277

265 **

254 *

243 **

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