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Bearish Moving Average Cross by Amgen Inc (AMGN)

By Nick Russo

Amgen Inc (NASDAQ:AMGN) shares have crossed bearishly below their 10-day moving average of $203.29 on a volume of 266K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Amgen Inc share prices have moved between a 52-week high of $211.90 and a 52-week low of $166.30 and are now trading 22% above that low price at $202.28 per share. The 200-day and 50-day moving averages have moved 0.15% higher and 1.26% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Amgen Inc on July 31st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $182.95. Since that recommendation, shares of Amgen Inc have risen 11.2%. We continue to monitor AMGN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses amgen inc

Ticker(s): AMGN