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Amgen Crosses Below its 10-day MA (AMGN)

By Amy Schwartz

Today, shares of Amgen (NASDAQ:AMGN) have crossed bearishly below their 10-day moving average of $158.81 on a volume of 5.1 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Amgen share prices have been bracketed by a low of $130.09 and a high of $181.81 and are now at $145.32, 12% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Amgen on September 29th, 2016 by issuing a Downtrend alert when the shares were trading at $167.86. Since that call, shares of Amgen have fallen 4.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Amgen

Ticker(s): AMGN