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Watch for Shares of Celgene Corp (CELG) to Approach Support at $95.06

By James Quinn

Shares of Celgene Corp (NASDAQ:CELG) have bearishly opened below the pivot of $95.86 today and have reached the first support level of $95.32. Investors may be interested in a cross of the next downside pivot targets of $95.06 and $94.26.

Celgene Corp share prices have moved between a 52-week high of $97.07 and a 52-week low of $58.59 and are now trading 63% above that low price at $95.22 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.7%.

There is potential upside of 18.8% for shares of Celgene Corp based on a current price of $95.22 and an average consensus analyst price target of $113.09. The stock should discover initial support at its 50-day moving average (MA) of $92.35 and subsequent support at its 200-day MA of $84.90.

SmarTrend is tracking the current trend status for Celgene Corp and will alert subscribers who have CELG in their portfolio or watchlist when shares have changed trend direction.

Keywords: pivot alerts celgene corp

Ticker(s): CELG