• Return to Headlines

Watch for Shares of Amgen (AMGN) to Approach Resistance at $85.12

Written on Wed, 02/20/2013 - 11:15am
By Nick Russo

Shares of Amgen (NASDAQ:AMGN) opened today above their pivot of $83.77 and have already reached the first level of resistance at $84.63. Investors may be interested in a cross of the next upside pivot targets of $85.12 and $86.47.

Amgen share prices have moved between a 52-week high of $90.81 and a 52-week low of $65.37 and are now trading 30% above that low price at $84.85 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has risen 0.2%.

Potential upside of 11.1% exists for Amgen, based on a current level of $84.85 and analysts' average consensus price target of $94.27. The stock should hit resistance at its 50-day moving average (MA) of $86.57, as well as support at its 200-day MA of $81.48.

SmarTrend is monitoring the recent change of momentum in Amgen. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Amgen in search of a potential trend change.

Keywords: pivot alerts Amgen

Ticker(s): AMGN

Contact Nick Russo



Smartrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.mysmartrend.com.

Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at http://www.mysmartrend.com/morning-call-newsletter-signup.