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Amgen Inc Falls 1.65% on Heavy Volume: Watch For Potential Rebound

By Amy Schwartz

Amgen Inc (NASDAQ:AMGN) traded in a range yesterday that spanned from a low of $194.28 to a high of $202.96. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $200.77 on volume of 1.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Amgen Inc has traded in a range of $163.31 to $210.19 and is now at $197.17, 21% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.3%.

SmarTrend is tracking the current trend status for Amgen Inc and will alert subscribers who have AMGN in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders amgen inc

Ticker(s): AMGN