Celgene Corporation

AAA

On November 14, we mentioned that Celgene Corporation (Nasdaq:CELG) was trading within a well-formed ascending channel pattern. As you can see from the charts below, the barriers of the pattern have acted as support and resistance several times of the past year and they have also created an interesting trading range. Notice how the bears have recently been able to push the price below the combined support of the 200-day moving average and the lower trendline. This breakdown will be used by traders to suggest that the stock will likely head lower and that the prolonged uptrend is shifting.



Related Analysis
  1. Chart Advisor

    Traders Fight To Push Corn Prices Higher

  2. These stocks have been weak, and despite rallies, investors might be better served by selling or shorting as opposed to buying.
    Chart Advisor

    Time To Take Profits On These 4 Rallying Stocks?

  3. Chart Advisor

    Is Natural Gas About to Tank?

  4. Chart Advisor

    A Multi-Asset Income ETF For Defensive Investors

  5. Chart Advisor

    These Stocks Offer Range-Trading Opportunities

Trading Center