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After Yesterday's Rally of 1.43% Shares Could Potentially Pullback

By David Diaz

Celgene Corp (NASDAQ:CELG) traded in a range yesterday that spanned from a low of $89.62 to a high of $91.36. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $90.99 on volume of 2.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Celgene Corp has traded in a range of $84.25 to $147.17 and is now at $90.77, 8% above that low. 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 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 34.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders celgene corp

Ticker(s): CELG