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Bullish Moving Average Cross by Amgen Inc (AMGN)

By Nick Russo

Amgen Inc (NASDAQ:AMGN) shares have crossed bullishly above their 10-day moving average of $194.94 on a volume of 163K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Amgen Inc share prices have been bracketed by a low of $166.30 and a high of $244.99 and are now at $195.67, 18% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Amgen Inc on January 27th, 2020 by issuing a Downtrend alert when the shares were trading at $223.05. Since that call, shares of Amgen Inc have fallen 16.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses amgen inc

Ticker(s): AMGN