Amgen Inc.(AMGN) is in an downtrend

(29-Feb-2008) (29-Feb-2008) Amgen Inc.(AMGN) closed at 45.53, down -1.07 or -2.3 % today. Based on our analysis, Amgen Inc.(AMGN) is in an downtrend.

The closing price of Amgen Inc.(AMGN) is below its 50 day moving average of 46.9 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) below the signal line(Dark Red Line) tells us that Amgen Inc.(AMGN) is losing momentum. The loss of momentum in a downtrend confirms that the downtrend is intact. The MACD histogram crossed below the signal line today, let us see if it stays below.