Amgen may fall to 250.60 - 261.90

Our pivot point is at 314.7.

Our preference

Target 261.9.

Alternative scenario

Above 314.7, look for 334.2 and 345.6.

Comment

The RSI is below its neutrality area at 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 trading under its 20 day moving average (305.176) but above its 50 day moving average (291.975).

Supports and resistances

345.6 **

334.2 *

314.7 **

307.2

298.62 (USD-last)

273.4

261.9 **

250.6 *

239.4 **

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