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Watch for Amgen Inc to Potentially Pullback After Gaining 2.45% Yesterday

By James Quinn

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.

Over the past year, Amgen Inc has traded in a range of $84.77 to $201.23 and is now at $174.99, 106% above that low. The 200-day and 50-day moving averages have moved 0.1% lower and 0.40% higher over the past week, respectively.

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