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After Yesterday's Rally of 2.45% Shares Could Potentially Pullback

By Shiri Gupta

Amgen Inc (NASDAQ:AMGN) traded in a range yesterday that spanned from a low of $171.58 to a high of $175.63. Yesterday, the shares gained 2.5%, which took the trading range above the 3-day high of $174.11 on volume of 1.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Amgen Inc share prices have moved between a 52-week high of $201.23 and a 52-week low of $84.77 and are now trading 106% above that low price at $174.99 per share. Over the last five market days, 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 Inc on March 22nd, 2018 by issuing a Downtrend alert when the shares were trading at $178.38. Since that call, shares of Amgen Inc have fallen 3.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders amgen inc

Ticker(s): AMGN