Celgene (NASDAQ:CELG) traded today at a new 52-week high of $98.24. Approximately 1.4 million shares have changed hands today, as compared to an average 30-day volume of 3.8 million shares.

In the past 52 weeks, Celgene share prices have been bracketed by a low of $58.53 and a high of $98.24 and are now at $97.88, 67% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.7%.

Celgene (NASDAQ:CELG) is currently priced 3.2% above its average consensus analyst price target of $94.72. The stock should discover initial support at its 50-day moving average (MA) of $79.61 and subsequent support at its 200-day MA of $73.67.

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 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.