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6/24/99 Amgen Inc (AMGN)
Points to watch: AMGN entered a downtrend in April, and daily MACD gave a sell signal on April 22nd. Weekly RSI, MACD, and stochastics are all in strong downtrends, but none of the indicators are yet giving oversold readings. The stock is now at important support. Amgen fell below its 200 day moving average (54.34) on June 18th. The 200 day M.A. acted as resistance on an intraday test on Tuesday. AMGN has held Gann angle support (52.63) on tests during the past 4 trading days. On a break of this support AMGN would next find support at 49.06 and then 46.75.
