Amgen at week 11: the decline holds but the double-bottom rebound clouds the picture

Amgen is at week 11 of a sell signal. Last week closed up 3.8% with buy volume at 80% and sell volume at 20% — a sharp reversal from the prior weeks. The decline holds directionally, but momentum has shifted and a double bottom in the 321 area, with a 6% rebound, introduces a layer of complexity that cannot be ignored.