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Celgene Rises 2.35% on Heavy Volume: Watch For Potential Pullback

By James Quinn

Celgene (NASDAQ:CELG) traded in a range yesterday that spanned from a low of $122.41 to a high of $125.40. Yesterday, the shares gained 2.4%, which took the trading range above the 3-day high of $122.72 on volume of 2.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Celgene share prices have moved between a 52-week high of $140.72 and a 52-week low of $92.98 and are now trading 34% above that low price at $124.92 per share. 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 is tracking the current trend status for Celgene and will alert subscribers who have CELG in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Celgene

Ticker(s): CELG