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AMAG Pharma (AMAG) Downgrade Alert, Watch for 8.2% Technical Downtrend Continuation

Sep 10, 2009 (SmarTrend(R) Spotlight via COMTEX) --

Company: Advanced Magnetics, Inc. (AMAG)

AMAG Pharma (NASDAQ:AMAG) downgraded to Hold from Buy at Citigroup. The stock closed yesterday at $43.70 on volume of 205,100 shares, below average daily volume of 510,106.

AMAG Pharmaceuticals is currently below its 50-day moving average of $46.28 and should find support at its 200-day moving average of $41.43.

SmarTrend is bearish on shares of AMAG and our subscribers received a Downtrend alert on July 10, 2009 at $47.59, which has returned 8.2% to date.

Write to Chip Brian at cbrian@tradethetrend.com

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News Provided by COMTEX

Company: Advanced Magnetics, Inc. (AMAG)


Related terms: market, nasdaq, pharmaceuticals, securities

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