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Watch for Continued Gains in Shares of Celgene Corp (CELG)

By Shiri Gupta

Shares of Celgene Corp (NASDAQ:CELG) traded today at $107.89, breaking its 52-week high. So far today approximately 264,000 shares have been exchanged, as compared to an average 30-day volume of 3 million shares.

In the past 52 weeks, shares of Celgene Corp have traded between a low of $58.59 and a high of $107.89 and are now at $107.76, which is 84% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.7%.

There is potential upside of 4.9% for shares of Celgene Corp based on a current price of $107.76 and an average consensus analyst price target of $113.09. The stock should discover initial support at its 50-day moving average (MA) of $99.59 and subsequent support at its 200-day MA of $93.99.

Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of cancer and inflammatory diseases worldwide.

SmarTrend is tracking the current trend status for Celgene Corp and will alert subscribers who have CELG in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows celgene corp

Ticker(s): CELG