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Celgene Corp Looks to Continue to Trade Above its Annual-High Share Price Today

By David Diaz

Shares of Celgene Corp (NASDAQ:CELG) traded at a new 52-week high today of $140.25. Approximately 1 million shares have changed hands today, as compared to an average 30-day volume of 4.7 million shares.

Potential upside of 1.6% exists for Celgene Corp, based on a current level of $139.85 and analysts' average consensus price target of $142.05. The stock should discover initial support at its 200-day moving average (MA) of $112.65 and subsequent support at its 50-day MA of $103.40.

Celgene Corporation is a global biopharmaceutical company. The Company focuses on the discovery, development, and commercialization of therapies designed to treat cancer and immune-inflammatory related diseases.

In the past 52 weeks, Celgene Corp share prices have been bracketed by a low of $94.42 and a high of $140.25 and are now at $139.85, 48% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has remained constant.

SmarTrend is monitoring the recent change of momentum in Celgene Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Celgene Corp in search of a potential trend change.

Keywords: 52 week high/lows celgene corp

Ticker(s): CELG