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Seattle Genetics Set to Possibly Rebound After Yesterday's Selloff of 1.30%

By Nick Russo

Seattle Genetics (NASDAQ:SGEN) traded in a range yesterday that spanned from a low of $45.45 to a high of $46.56. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $46.10 on volume of 439,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Seattle Genetics on June 19th, 2017 by issuing a Downtrend alert when the shares were trading at $60.28. Since that call, shares of Seattle Genetics have fallen 23.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, shares of Seattle Genetics have traded between a low of $35.93 and a high of $75.36 and are now at $45.57, which is 27% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 1.0%.

Keywords: rebounders seattle genetics

Ticker(s): SGEN