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March 19, 2023
- The CCI indicator stands above +100
- Bollinger analysis indicates upper Band® is at $200.73
Seagen moves 0.09% to close at $200.3 Friday.
The stock has been trending positively for about 3 months. The cancer therapies development company has managed to gain 52.42% so far this year despite trading at lows around $108.81 previously.
Technical analysis trend indicators suggest that investors are seeking long positions as Seattle Genetics Inc price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to momentum evaluation, the Relative Strength Index indicates Seagen is in a strong overbought condition. According to asset volatility analysis, Seagen's upper Bollinger Band® is at $200.73, suggesting that a downward move may follow.
Overall, technical indicators suggest Seagen has no obvious direction for the immediate future.
Meanwhile, mixed performances were seen by other health care stocks as Merck went down to $104.1, losing 3.02% after it closed at $107.34 Friday. Abbott Laboratories lost 2.04% Friday and closed at $97. Amgen closed at $229.79 (down 2.04%).
