Amgen Inc.(AMGN) is in an downtrend but momentum is showing some life

(28-Jan-2008) (28-Jan-2008) Amgen Inc.(AMGN) closed at 47.86, down -0.28 or -0.58 % today. Based on our analysis, Amgen Inc.(AMGN) is in an downtrend but momentum is showing some life.

The closing price of Amgen Inc.(AMGN) is below its 50 day moving average of 49.74 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) above the signal line(Dark Red Line) tells us that Amgen Inc.(AMGN) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 8-Jan-2008, about 15 trading days ago.