There is no head and shoulders pattern in a 5 year chart. First, you are looking at a 300% increase from chart inception. However I think you are referring to the past year or even more recent than that. Please provide your timeframe so I can analyze and make sense of what you are saying.
I have been long CELG since 2013. I said it was just easier to see the pattern on the 5 year chart. The pattern played out over the past month. Not all patterns play out. I don't ignore them either when I see one.
Yeah 5 year chart. If you have to go that far back its not a pattern. What is obvious is the support in 95-97 area if it gets there. People talking about more downside are hilarious. Keep shorting the bottoms, at some point biotech is going to discount the election, probably well before it and shorts are going to be in a world of hurt. The charts here are showing the same bottoming pattern as oil services earlier this year before the turn higher. Enjoy.
The S&P put in the same pattern too. Its neckline is at 2040. If we break below that, we could see another sell off like February. I took off all my trading position from the February lows. I am ready for a good sell off to reload.
$85 to $90. The neckline comes into play between $97 and $98. Not all head and shoulders play out. I can see a valuation case for CELG that I laid out a few months ago. 15x TTM earnings are $4.92. We could see worst case of 15x TTM or $73.80. That's my worst case scenario since I have never seen biotech trade at 15x TTM. I think 15x year end earnings are more appropriate in a fear driven sell off like we are having this year which gets us to $85.
Its on CELG and the IBB charts. It completed the right shoulder yesterday. It is easiest to see on the 5 year chart. This should take us back to the lows or even lower. I am watching 240 on the IBB and then 215.
You guys realize that cel-turd has to get over $105 first. I guess baby steps is the name of the game.
$225 ...what a joke of a call.
IMO CELG and most other large pharma stocks will
do better after the first week of Nov events declare
....no future in large pharma until after then
and then I am in general agreement with your quick
analysis regarding CELG, 2017 & beyond.
$187 for 2020 seems pretty low, given that the company is looking for EPS of $13+ by then. That assumes the stock will continue to trade at a depressed P/E, not one more in line with its growth rate. Plus, accretive acquisitions may well be in the cards here. I can't imagine the stock won't be at least $225 or so in 2020...
No one listens to GS. They are the most manipulative company in the world. What is it they call their clients? Muppets? They pump stocks when their hedge funds want to sell and bash them when their hedge funds want to buy.
CELG Analyst Recs from the Mkt Realist listing
Goldman Sachs - Sell Price Target 84.....What the ????
How do they derive that?
$187 is my price target for 2020. We have too much oil and no demand. There is no rush to be a hero in Commodities. The China driven commodity bubble has burst. You could probably pick through the rubble now, but I wouldn't expect much for a year or two. I like growth and oil, right now, has negative growth.
Doesn't matter. Its not my money anymore. I earning back all the money I put into it. I'm playing now with someone else's money. A new car has a high risk of capital depreciation, but If i could buy it with your money, I would lol.
Why would I sell the core position. Its fully paid for. It doesn't cost me anything to hold it for long term.
Cel-turd is at BEST trading at fair value here at $103. Ignore me at your peril. Don't listen to bottomfisher ...probably a paid tout.