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Recent 52-Week High Exceeded in Shares of Celgene Corp (CELG)

By Nick Russo

Shares of Celgene Corp (NASDAQ:CELG) traded at a new 52-week high today of $95.93. Approximately 798,000 shares have changed hands today, as compared to an average 30-day volume of 9.2 million shares.

Potential upside of 17.9% exists for Celgene Corp, based on a current level of $95.93 and analysts' average consensus price target of $113.09. The stock should discover initial support at its 50-day moving average (MA) of $90.80 and subsequent support at its 200-day MA of $84.46.

In the past 52 weeks, shares of Celgene Corp have traded between a low of $58.59 and a high of $95.93 and are now at $95.93, which is 64% above that low price. The 200-day and 50-day moving averages have moved 0.24% higher and 0.38% higher over the past week, respectively.

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.

SmarTrend recommended that subscribers consider buying shares of Celgene Corp on January 3rd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $84.13. Since that recommendation, shares of Celgene Corp have risen 13.2%. We continue to monitor CELG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows celgene corp

Ticker(s): CELG