CELG breaks key support level
Moving lower for the 3rd day in a row, CELG ended Thursday at 79.98 losing $1.38 (-1.7%). Today's closing price of 79.98 marks the lowest close since June 17, 2014. Closing below Wednesday's low at 81.18, the share confirms its breakout through the prior session's low having traded $2.02 below it intraday.
Thursday's trading range was $2.06 (2.54%), that's slightly below last trading month's daily average range of $2.40. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly above average.
Breaking below the key support level at 81.05 today, it is now likely to act as resistance going forward.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bearish.
Market Conditions for Celgene Corp.
|Down Close Near Low of Period||TQ Pro Members Only|
|Closed below last periods low||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Very Strong Down Move||TQ Pro Members Only|
|Bearish Break through SMA 200||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
Learn more about TQ Pro