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Watch for Continued Gains in Shares of Celgene Corp (CELG)

By Shiri Gupta

Shares of Celgene Corp (NASDAQ:CELG) traded at a new 52-week high today of $101.48. So far today approximately 75,000 shares have been exchanged, as compared to an average 30-day volume of 3.4 million shares.

Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of cancer and inflammatory diseases worldwide.

Over the past year, Celgene Corp has traded in a range of $58.59 to $101.48 and is now at $101.42, 73% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.5%.

Celgene Corp has overhead space with shares priced $101.42, or 10.3% below the average consensus analyst price target of $113.09. The stock should discover initial support at its 50-day moving average (MA) of $97.53 and subsequent support at its 200-day MA of $92.97.

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: 52 week high/lows celgene corp

Ticker(s): CELG