Watch the Rectangle on AMGN closely. Trade with professional charting tools.
Sideways movement between parallel supports.
Bearish continuation pattern.
Bearish continuation if preceding move was down.
Traders are watching Amgen (AMGN) as price action tightens. Price has moved to $350.95 (0.32%) amidst recent volatility. The primary technical feature is a Bearish Flag formation. The trend indicator is reading 4.9/100, suggesting moderate momentum. A potential breakout level is identified at $335.06, targeting $263.27 with support near $359.45 (R:R 2.94).
What is your outlook on AMGN?