CELG – Celgene Daily Chart.

A quick update on this leading biotech stock. We saw VRTX – Vertex Pharma on the move today on huge volume, and the action on CELG is looking great.

Today’s trading put in a doji, but a doji within a base, and contextually that is quite different than a doji candlestick pattern at resistance. The implications are opposite in this sense. Today’s doji was on an increase in volume, which means that it was bought up off the lows. This is a very constructive sign that the screwed trader will notice. Volume analysis takes a while to get proficient in – it’s not the ‘what’, but the ‘how’ that matters, and that’s where volume/price analysis comes in. All time highs (and resistance) for CELG are at 140.72 and earnings are due soon: July 27th…

Check out our Biotech Sector Analysis for more coverage of the biotechs in general.

Here’s the daily chart for the biotech leader below:

CELG - Celgene Daily Chart

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