Amgen may rise to 344.00 - 351.00

Our pivot point is at 310.

Our preference

The upside prevails as long as 310 is support.

Alternative scenario

The downside breakout of 310 would call for 301 and 295.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 305.2345 and 296.9896). Finally, Amgen is trading above its upper Bollinger band (standing at 317.05).

Supports and resistances

357 **

351 *

344 **

339

319.31 (USD-last)

315

310 **

301 *

295 **

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