CELG, as I have shown previously, is channelling in and off its 200 sma as a predicatable pattern. The last time I wrote about this stock, I suggested beginning a short position in it. It is really beginning to look like I was right. As the chart shows, things are looking more grim here. A volatile top seemed to be put into place last week as buyers could not move out of the channelling pattern and the stock has now broken below its middle bollinger band. Look for the stock to continue downward from here and hold that short position strong.
CM
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