CELG closes within previous day's range

Celgene Corp. (CELG) Technical Analysis Report for Sep 14, 2018

Highlights

CELG dominated by bears dragging the market lower throughout the day
CELG ends the day on a bearish note closing near the low of the day
CELG finds buyers again around 86.88
CELG closes within previous day's range

TQ Sentiment

Report Sentiment: 42% Bearish
Technical Forecast:

Overview

CELG ended the week -3.64% lower at 87.17 after losing $1.57 (-1.77%) today on low volume. The bears were in full control today, moving the market lower throughout the whole session. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for CELG

Volatility

Friday's trading range was $2.09 (2.35%), that's above last trading month's daily average range of $1.76. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly above average.

Price Action

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

Support/Resistance

Prices are trading close to a key support level at 86.05. After having been unable to move lower than 87.12 in the previous session, the market found buyers again around the same price level today at 86.88.

Trend

Celgene Corp. shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Order Flow

Selling could speed up should prices move below the close-by swing low at 86.33 where further sell stops might get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Celgene Corp.

Loading Market Conditions for $CELG (Celgene Corp.)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

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

Find out more
Top Market Movers

Related Stocks

A 10 day candlestick chart for A 70.72 -0.41 (-0.58%)
ABBV 10 day candlestick chart for ABBV 92.26 -0.42 (-0.45%)
ABC 10 day candlestick chart for ABC 90.13 -0.93 (-1.02%)
ABMD 10 day candlestick chart for ABMD 384.88 2.90 (0.76%)
ABT 10 day candlestick chart for ABT 69.05 0.26 (0.38%)
ACAD 10 day candlestick chart for ACAD 20.17 1.06 (5.55%)
ACHC 10 day candlestick chart for ACHC 35.69 -0.31 (-0.86%)
AET 10 day candlestick chart for AET 204.27 -0.93 (-0.45%)
AGIO 10 day candlestick chart for AGIO 73.56 -0.41 (-0.55%)
AGN 10 day candlestick chart for AGN 191.31 -1.20 (-0.62%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!