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SmarTrend Watching for Potential Rebound in Shares of Amgen Inc After 1.24% Loss

By Nick Russo

Amgen Inc (NASDAQ:AMGN) traded in a range yesterday that spanned from a low of $224.40 to a high of $226.52. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $226.26 on volume of 521,000 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 $166.30 to $244.99 and is now at $224.16, 35% above that low. The 200-day and 50-day moving averages have moved 0.35% higher and 0.17% lower over the past week, respectively.

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