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April 24, 2023
- Next support is currently 90 cents away at $203.12
- Bollinger analysis indicates upper Band® is at $207.23
While Seagen is on a 30 day bullish trend, Today's session might suggest a slow down — without a clear-cut direction, Seagen is trading around $204.02 and ranging between $203.75 and $204.5.
The stock has been trending positively for about 4 months. The biotechnology company now trading 52.67% above its 3-month low of $108.81.
Seattle Genetics Inc's upper Bollinger Band® is at $207.23, suggesting that a downward move may follow. Despite this, Seagen is approaching key support, around 90 cents away from $203.12. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Despite the market lacking direction, technical chart analysis strongly suggests Seagen is positioned for a downward move in the near term.
Meanwhile, mixed performances are seen in other health care stocks as Medtronic is up 4.12%. Novo Nordisk is down 1.48% from the beginning of the session and now trades around $170.09. Pfizer is down to $39.85, losing 0.88%, after ending Friday at $40.21.
Upcoming fundamentals: United States Building Permits scheduled to come out tomorrow at 13:30 UTC.
