See that red line? Its a form of resistance.
For me it says don't get sucked into buying it here.
The first thing I do when I look at a chart is? Ask
where is support. I need to know (and so do you) what
my risk is whenever I buy a stock. Support zones
help you define your risk, meaning if I buy here and
it pulls back where can it pullback to.
Sure looks like CELG here, same theme too.