Amgen (AMGN) Chart Analysis 081206

Daily chart looks like it wants to test the low at $63.52. It needs to hold for more upside. IF it breaks, THEN I will be looking for it to be resistance and for more downside to come.

We have a blue ice failure here on the weekly chart. Let's see if the low will hold or not.

Monthly chart shows that more downside on this stock is possible. IF the current low of $63.52 is broken, THEN downside targets are: $52.20ish, $47.10 ish, and even $42.61.