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Celgene (CELG) Crosses Pivot Point Resistance at $98.46
Jan 15, 2013 (SmarTrend(R) News Watch via COMTEX) --
Celgene (NASDAQ:CELG) has opened bullishly above the pivot of $96.92 today and has reached the first level of resistance at $98.46. Analysts will be watching for a cross of the next upside pivot targets of $99.26 and $101.60.
Celgene (NASDAQ:CELG) is currently priced 3.7% above its average consensus analyst price target of $94.72. Celgene shares have support at the 50-day moving average (MA) of $79.61 and additional support at the 200-day MA of $73.67.
Over the past year, Celgene has traded in a range of $58.53 to $98.96 and is now at $98.35, 68% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.7%.
SmarTrend recommended that subscribers consider buying shares of Celgene on November 23rd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $78.14. Since that recommendation, shares of Celgene have risen 25.0%. We continue to monitor CELG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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