albert.callisto
Long

CELG - testing 99, twist in hourly chart

NASDAQ:CELG   CELGENE CORP
29 0 0
From a longer term noiseless view (Kagi), the price hit the bottom of the downside channel after earnings. It just started a reversal.

On a much shorter timescale, the price is supported by an oblique trend. Candles did not manage to get through it and are currently testing a level at 99.30. Tenkan was broken and price could head towards the Kijun if it passes the previously mentioned level.

Interesting feature on the hourly cloud is the presence of a twist. These areas are interesting in Ichimoku because price may try to go through it, they offer a path of least resistance (see how it went through the previous twist area on 26th). This could be the first sign for a bullish trend at least on hourly scale.
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