Amgen (AMGN) Chart Update 091006

Amgen made a 5 wave pattern up into the .707 fib level before retracing. Let's see if it wants to test the current low at the $65.00 area.

Resistance area with LIS and 34ema and 89sma all clustered in the same zone. IF we continue lower, THEN we will have a blue ice failure type of pattern.

There is no confirmed buy signal yet off the monthly chart.