Amgen’s stock price (AMGN) rose in the intraday levels, amid the dominance of the downward correctional trend, with negative pressure from the 50-day SMA, as the stock tries to vent off oversold saturation in the RSI, with positive signals out of them, as it also tries to recoup some recent losses.

Therefore we expect the stock to return lower, targeting the support of $249.70, provided the resistance of $288.50 holds on.

Forecast today: Likely Bearish