Elliott Wave Theory on CELG
Based on the length of Wave 1, I think we've already passed Wave 5 on the CELG move and we're actually in the ABC correction phase. Specifically the B wave. Which would suggest a downward movement from here. That, coupled with the historical resistance at the $138 level makes this a critical area to watch. If you haven't entered a long position yet, wait for confirmation above $138.
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