CELG still stuck within tight trading range

Celgene Corporation (CELG) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team


CELG finds buyers around 77.09 for the third day in a row
CELG pushes through 20-day moving average
CELG still stuck within tight trading range
CELG closes within previous day's range


CELG ended Thursday at 78.39 gaining $1.01 (1.31%). Closing within the previous day's range, prices failed to decisively move past the prior day's trading range.

Daily Candlestick Chart (CELG as at Jun 14, 2018):

Daily technical analysis candlestick chart for Celgene Corporation (CELG) as at Jun 14, 2018

Thursday's trading range was $1.72 (2.22%), that's slightly above last trading month's daily average range of $1.56. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average. Prices continued to consolidate within a tight trading range between 77.09 and 79.24 which it has been in now for the last trading week.

In a volatile session, prices traded above the previous day's high as well as below the prior day's low, forming a bullish Outside Bar.

Prices are trading close to the key resistance level at 79.24. The share found buyers again today around 77.09 for the third trading day in a row after having found demand at 77.30 in the previous session and at 77.29 two days ago.

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term. The market managed to break above the 20-day moving average at 78.19 today for the first time since April 10th.

Buying could accelerate should prices move above the close-by swing high at 79.24 where further buy stops might get activated. As prices are trading close to June's high at 79.67, upside momentum could speed up should Celgene Corp. mark new highs for the month.

Market Conditions for CELG as at Jun 14, 2018

Loading Market Conditions for CELG (Celgene Corporation)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Celgene Corporation traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!