AMGN has fallen $10 from its highs of $87 in mid Sept'. Last week saw it drop through support at $78, pausing briefly overnight before continuing its strong decent and chopping straight through the next support level - a dollar below at $77. Friday's bull candle is interesting, as buyers made some attempt to test the $77 level. However, their efforts are not wholly convincing, as evidenced by the relatively poor volume. If Monday's open isn't positive with a strong early move above this (now resistance?) level, it could suggest that the move to the downside isn't over yet. If that turns out to be the case, there is nothing that I can see to prevent the price from falling to the $72 level, from where it gapped up so spectacularly on the 20th July. Just my thoughts, and I'll doubtless look very silly this time next week when AMGN moves to new highs!
Tim.
