Amgen may fall to 250.60 - 261.90

Our pivot point is at 314.7.

Our preference

Target 261.9.

Alternative scenario

The upside breakout of 314.7 would call for 334.2 and 345.6.

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 below 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.