Celgene Corporation

By root | December 03, 2007 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.



You May Also Like

Related Analysis
  1. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

  2. Stock Analysis

    Amgen's Dividend Could Double in 5 Years

  3. Stock Analysis

    You Should Cheer Freeport-McMoRan's Dividend Cut

  4. Investing

    What You Should Know About Net Neutrality

  5. Investing

    What Lies Ahead for Apple's P/E ratio

Trading Center