Watch for Shares of Amgen (AMGN) to Approach Resistance at $88.12
Shares of Amgen (NASDAQ:AMGN) opened today above their pivot of $84.84 and have already reached the first level of resistance at $86.85. Investors may be interested in a cross of the next upside pivot targets of $88.12 and $91.40.
In the past 52 weeks, shares of Amgen have traded between a low of $65.37 and a high of $90.81 and are now at $86.14, which is 32% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.
Amgen has overhead space with shares priced $86.14, or 8.5% below the average consensus analyst price target of $94.10. The stock should find resistance at its 50-day moving average (MA) of $87.01, as well as support at its 200-day MA of $80.21.
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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