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