Seagen now only 99 cents from key resistance at $207.24

• Seagen could slow down as it approaches resistance at $207.24
• Upper Bollinger Band® currently at $208.03

Seagen has posted further gains as part of a 24 day trend that has already seen the stock gain $32.59. Yesterday continued on the same track for Seagen — after finishing Wednesday at $205.2, the cancer therapies development company went up by 0.51% yesterday and remained at the $206.25 level.

The stock has been trending positively for about 4 months. Having set a significant high of $206.25 a day ago, the biotechnology company is trading 0.51% lower.

Technical analysis shows that Seattle Genetics Inc could be slowing down soon as it approaches resistance at $207.24. Of course, crossing it might suggest further gains are ahead. Concerning technical analysis and more specifically, trend indicators, investors are seeking long positions as Seagen 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 an overbought condition. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $208.03, thereby suggesting that Seagen is becoming overvalued.

Overall, while Seagen has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

Fundamental indicators – United States Producer Price Index fell short of the 0.1% projections, with new data of -0.5%.

This rally in Seagen's share price coincided with other health care stocks as Novo Nordisk gained 2.52%, as it traded at $167.64. Novartis was up 1.81%. Thermo Fisher Scientific traded at $591.13 after closing yesterday's trading day at $579.35 (up 2.03%).

Upcoming fundamentals: United States Core Retail Sales projected to come out at -0.3% — worse than previous data of -0.1%; data will be released today at 12:30 UTC.