Thoughts On Celgene Rising Despite Negative News Today


Introduction - Celgene not as strong as Hurricane Irma, but pretty strong nonetheless

The biotech I have championed most strongly for the past 11 months, Celgene (NASDAQ:CELG), had a positive technical turnaround Thursday after trading down 2% on adverse news relating to a major clinical trial program. This article explores the bad news and provides some thoughts on why traders may have bought this dip so aggressively.

Just last week, I wrote an article focused heavily on the valuation of CELG. This article focuses mostly on fundamentals that underpin the valuation, with some additional comments on the updated technicals. So in a sense, this article serves as a Part 2 of a two-part series.

First up, the negative news that the market has shrugged off for now.


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