Celgene: Gearing Up For New Highs

7/26/17

During my nearly decade long trading career, one sector I have always shied away from is Biotechnology (IBB). Volatility is rampant, things can turn on a dime, and the losers are not just losers, but catastrophes. While this doesn't mean I refuse to invest in biotech names, I typically need to find good technical and fundamental reasons to do so. The Great Biotech Wreck of 2015 has made me even more apprehensive to foray into this sector, but I've decided to bite my tongue as a certain name has caught my attention. Not only does Celgene (CELG) boast beefy levels of earnings growth, it's also emerging from a base that's nearly two years in the making. The stock finally looks ready to put this trading range in its rear-view mirror, and it's for this reason I've gone long.

(Source: TC2000.com)

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