Celgene (CELG) Offering Possible 28.87% Return Over the Next 7 Calendar Days

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Celgene’s most recent trend suggests a bullish bias. One trading opportunity on Celgene is a Bull Put Spread using a strike $90.50 short put and a strike $85.50 long put offers a potential 28.87% return on risk over the next 7 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $90.50 by expiration. The full premium credit of $1.12 would be kept by the premium seller. The risk of $3.88 would be incurred if the stock dropped below the $85.50 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Celgene is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Celgene is bullish.

The RSI indicator is at 73.05 level which suggests that the stock is neither overbought nor oversold at this time.

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Elon Musk’s proposal to take Tesla Inc. private re-ignited one sell-side analyst’s thought that biotechnology giant Celgene Corp. may follow suit. RBC Capital Markets analyst Brian Abrahams revisited a concept he floated back in March that a leveraged buyout of the ailing drugmaker would enable it to capture value from its keystone cancer treatment, Revlimid, and take it out from under the microscope that is the public market. “It’s certainly a stretch to say the least,” said Bloomberg Intelligence analyst Asthika Goonewardene, noting he disagrees with the comparison of the two stocks.

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