Amgen (AMGN) advanced in recent intraday trading, supported by continued trading above its 50-day Simple Moving Average (SMA), which is acting as dynamic support and reinforcing the stability of the primary medium-term uptrend. Price action also continues to move alongside an ascending trendline that supports the prevailing bullish trend. Meanwhile, momentum indicators continue to generate fresh bullish signals after previously reaching extremely oversold levels, adding further support to the stock's positive technical outlook.

Therefore, our outlook remains bullish for the stock's upcoming trading sessions, as long as support at $358.00 remains intact. Under this scenario, the stock is expected to target the key resistance level at $391.00.

Today's price forecast: Bullish.