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Bullish Moving Average Cross by Amgen (AMGN)

By Nick Russo

Today, shares of Amgen (NASDAQ:AMGN) have crossed bullishly above their 10-day moving average of $172.75 on a volume of 282K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Amgen have traded between a low of $130.09 and a high of $181.81 and are now at $173.12, which is 33% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Amgen on July 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $153.60. Since that recommendation, shares of Amgen have risen 12.2%. We continue to monitor AMGN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Amgen

Ticker(s): AMGN