Watch for Shares of Celgene (CELG) to Approach Resistance at $88.94
Celgene (NASDAQ:CELG) has opened bullishly above the pivot of $84.33 today and has reached the first level of resistance at $87.34. Investors may be interested in a cross of the next upside pivot targets of $88.94 and $93.55.
Celgene (NASDAQ:CELG) has potential upside of 1.2% based on a current price of $88.11 and analysts' consensus price target of $89.16. The stock should find initial support at its 50-day moving average (MA) of $77.56 and further support at its 200-day MA of $73.23.
Over the past year, Celgene has traded in a range of $58.53 to $88.70 and is now at $88.11, 51% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.5%.
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 9.7%. We continue to monitor CELG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: pivot alerts Celgene