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Celgene Corp Looks to Continue to Trade Below its Annual-Low Share Price Today

By Amy Schwartz

Celgene Corp (NASDAQ:CELG) traded at a new 52-week low today of $80.56. This new low was reached on below average trading volume as 1.7 million shares traded hands, while the average 30-day volume is approximately 4.7 million shares.

Celgene Corp has overhead space with shares priced $80.71, or 28.6% below the average consensus analyst price target of $113.09. The stock should run into initial resistance at its 50-day moving average (MA) of $103.40 and subsequent resistance at its 200-day MA of $112.65.

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.

Over the past year, Celgene Corphas traded in a range of $80.56 to $147.17 and are now at $80.71. 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 its subscribers protect gains by selling shares of Celgene Corp on October 13th, 2017 by issuing a Downtrend alert when the shares were trading at $137.01. Since that call, shares of Celgene Corp have fallen 40.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows celgene corp

Ticker(s): CELG