This Leading Biotechnology Level Should Be On The Radar

One of the leading biotechnology stocks in the world is Celgene Corporation (NASDAQ:CELG). This company discovers, develops, and commercializes therapies to treat cancer and inflammatory diseases. Celgene stock topped out on March 17th at $127.64 a share. Today, Celgene stock is trading at $116.97 a share. Traders can easily see that this leading biotechnology stock has been trending lower on the charts lately. The stock now has major chart support around the $110.00 level. This is an area where the major institutional money supported the equity back in December 2016. Often, old pivot levels will serve as major chart support when retested.

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: