Celgene Corp.: new bullish technical picture, bulls are in control

New bullish technical picture drawn on Celgene Corp. daily chart, bulls are in control. Quotes are above 14 days moving average.

Celgene Corp., March 9 stock closing price was at 125.13 (+1.70%). New bullish technical picture drawn on daily chart (high2 < high1, high1 < high, low2 < low1, low1 < low, close > close1, close1 > close2), we suggest to watch today closing. The main trend is up on the daily chart, bulls are in control. The positive values of Momentum indicator support the upward trend.
CELGENE CORP. CHART

View the interactive chart on ProRealTime.com

Simple Moving Average (SMA)
Celgene Corp. quotes are above 14 days moving average (SMA value is 121.87). The short term view is therefore bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.
Volumes
Celgene Corp. daily chart shows an increase in volumes compared to the previous day. This could be a sign of a significant move to come.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 09/03/2017.

Performance: 7 trading days= +1.16% – 15 trading days= +5.45% – 30 trading days= +12.19%

Resistance levels: R1= 126.49 – R2= 127.86 – R3= 130.92
Pivot Point: 124.80
Support levels: S1= 123.43 – S2= 121.74 – S3= 118.68


Buying opportunity above 125.41, targets minor resistance at 126.96 and perhaps as far as strong resistance at 128.05, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 130.81.

Selling opportunity below 124.40, targets minor support at 122.87 and perhaps as far as strong support at 121.80, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 119.10.

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