Amgen extends gains - Analysis - 24-05-2022

Amgen's stock (AMGN) rose 0.62% in the last session, or 1.54 points, settling at 249.04, with trading volumes surpassing 2.2 million shares, below 10-day averages of 3 million shares.

The stock is buoyed by trading above the 50-day SMA, while trading alongside the upward short-term correctional line, with positive signals from the RSI despite reaching overbought levels.

Therefore we expect more gains for the stock, targeting the pivotal resistance of 258.39.

Expected trend for today: Bullish