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Celgene Bearish Moving Average Crossover Alert (CELG)

By Amy Schwartz

Today, shares of Celgene (NASDAQ:CELG) have crossed bearishly below their 10-day moving average of $114.37 on a volume of 380K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Celgene share prices have moved between a 52-week high of $140.72 and a 52-week low of $92.98 and are now trading 23% above that low price at $113.93 per share. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Celgene on July 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $102.54. Since that recommendation, shares of Celgene have risen 11.8%. We continue to monitor CELG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Celgene

Ticker(s): CELG