Seagen hones in on key resistance at $196.17

• Seagen could slow down as it approaches resistance at $196.17
• Seagen made an initial breakout above its 3 day Simple Moving Average at $194.79, a potential indicator of a newly emerging bullish phase.

Signs of life: 13 days of level trading might be coming to an end with a gain of 4.12% today Yesterday's session shows improvement: after closing yesterday at $195.38, the cancer therapies development company peaked at $195.87 before giving up early gains and closing at $195.38.

Trading mostly sideways for a month. The biotechnology company has gained 52.1% since its lowest print of $117.37 earlier this year.

Trend-following investors would be interested to note that Seattle Genetics Inc made an initial breakout above its 3 day Simple Moving Average at $194.79, a potential indicator of a newly emerging bullish phase. Asset volatility analysis shows that Seagen's upper Bollinger Band® is at $201.64, this is a slight indication of a slowdown. Seagen's notable support and resistance levels: Seagen is 79 cents away from testing key resistance at $196.17. Peaking above this level could inspire market bulls and open the path to further gains.

With market volatility ebbing, the current technical outlook indicates Seagen will remain range-bound for the immediate future.

Fundamental indicators – United States Non Farm Payrolls improved upon its previous reading of 294,000 with a new data release of 339,000.

A look at other health care stocks also showed bullish price action as AbbVie gained 2.57%, as it traded at $136.87. Novartis added 1.85% to its value, and traded at $98.91. Johnson & Johnson added 1.57% to its value, and traded at $156.97.