Trade Alert - Celgene High Volume | Tech-Corner

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Trade Alert - Celgene High Volume

Published on Monday, 06 February 2012 11:38 Written by TradersHuddle Wire

celg New York, February 6th (TradersHuddle.com) - Unusual high volume detected on shares of Celgene Corporation (NASDAQ:CELG), early in the trading session. Celgene is currently trading lower by 1.28%, so definitely the sellers in control, as the stock's volume is on pace to break its average.

Celgene Corporation (NASDAQ:CELG) is a global biopharmaceutical company. The Company focuses on the development, and commercialization of therapies designed to treat cancer and immune-inflammatory related diseases.

Celgene has already traded 0.986 times its 3-month average volume, and has calculated support and resistance at $60.00 and $74.63 respectively. Traders like to use volume as their lie detector for price action moves through predefined trading ranges.

The overall market index S&P 500 is trading lower by -0.26% from its previous trading close, which means that Celgene stock is underperforming the overall market.

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