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Celgene Corp (CELG) Breaks Through Support at $80.56

By David Diaz

Shares of Celgene Corp (NASDAQ:CELG) opened today below their pivot of $81.98 and have already reached the first level of support at $80.56. Should the shares continue to fall, the support pivots of $79.77 and $77.56 will be of interest.

Over the past year, Celgene Corphas traded in a range of $80.56 to $147.17 and are now at $80.71. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has remained constant.

There is potential upside of 40.1% for shares of Celgene Corp based on a current price of $80.71 and an average consensus analyst price target of $113.09. The stock should run into initial resistance at its 50-day moving average (MA) of $103.40 and subsequent resistance at its 200-day MA of $112.65.

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 40.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts celgene corp

Ticker(s): CELG