Amgen’s stock (AMGN) showed a slight uptick in intraday trading on December 4, 2024, buoyed by positive signals from the RSI, as the stock attempts to recover some recent losses. However, the dominant short-term trend remains bearish, with a sharp downward slope indicating continued pressure. Additionally, the stock is trading below the 50-day simple moving average (SMA), reinforcing the negative sentiment.
Given these factors, we expect the stock to resume its decline, targeting the key support level at $260.68, provided the resistance at $297.32 holds.
Trend Forecast for Today: Likely Bearish
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