Joel Kruger suggests this interesting Equities in his section Equities of interest :
Celgene Corporation (NASD: CELG)
This biotech name has had some really good drugs on the market that have been very well received and are clearly reflecting the company’s bottom line. There are also some really good prospects in the pipeline and everything is looking great. But let’s talk pure price action now…Cmon brotha!! Do you really think this thing can keep truckin without any profit taking? I suspect there might even be some not so good news around the corner…but at a minimum..you have to expect some profit taking here. The daily RSI is at an earth shattering 90 level, and when markets show this kind of technical reading, there is quite often an equally earth shattering reversal. Look for any additional upside to be well capped below $105, with the greater risk for a drop back towards the $80-85 area over the coming days.
