MACD divergence has resulted in a down trend since the middle of August. We are getting to the point that we need to see a week close above the $72 mark and build ( If that happens, we may be in good shape till the close of the year). Currently, the purchase volume is not there. If the down trend continues... It maybe time to cut bait and wait for re-entry when the market begins to act rationally.
***Personal note & Opinion: I am long CELG with multiple calls from $65-75 through 1/18/2018. The last bounce from an oversold RSI brought us to $94 and change... The trend does not seem to be heading that direction. I am looking through the beginning of December to decide on on long position.
***Personal note & Opinion: I am long CELG with multiple calls from $65-75 through 1/18/2018. The last bounce from an oversold RSI brought us to $94 and change... The trend does not seem to be heading that direction. I am looking through the beginning of December to decide on on long position.