Celgene (CELG) Approaches New Upside Target of $82.37
Celgene (NASDAQ:CELG) has opened bullishly above the pivot of $80.06 today and has reached the first level of resistance at $81.43. Analysts will be watching for a cross of the next upside pivot targets of $82.37 and $84.68.
There is potential upside of 8.5% for shares of Celgene based on a current price of $81.67 and an average consensus analyst price target of $88.58. The stock should find initial support at its 50-day moving average (MA) of $76.30 and further support at its 200-day MA of $72.48.
Celgene share prices have moved between a 52-week high of $81.82 and a 52-week low of $58.53 and are now trading 40% above that low price at $81.67 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.
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 3.0%. We continue to monitor CELG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: pivot alerts Celgene