$SGEN has been on a long-term bull run as we look at the weekly chart. Positive topline results signal that the bull run is set to continue and we expect $SGEN to keep racking up new 52-week highs.
Seattle Genetics (NASDAQ:SGEN) is up in reaction to positive results from a Phase 2 clinical trial, HER2CLIMB, evaluating combination of tucatinib, Roche's Herceptin...
We haven't lost much on the higher timeframes, infact we have been holding good higher lows, more recently though we've seen 3 important lower high's easily seen on the monthly. For now I've re-entered short with the good stop with a smaller target and big target if this really starts dumping.
Next couple months will give us a sense of where this is heading. If...
SGEN has beat biotech averages significantly the past few months and has come to meet my $80 pt which also happens to make a bearish harmonic butterfly pattern. This could have a little more upside as it tests $80-81 but risk/reward would suggest a potential double top that can take this down quite a bit in a short amount of time. If I was short I would be looking...
Have to be careful here because monthly/weekly are pretty bullish making higher lows. Did make an interesting failure on the daily however we are currently squeezing long.
I'll be looking for another failure near the top of the previous range where we lost support.
* These charts are to test out my technical analysis and are not financial advice *
Tested the interest zone based on VSA adapted to mid and small cap companies we can see how there's an interest to make a bullish impulse to cover the gap zone.
I like this channel re-entry area, though it may not the best time to go long since earnings are only one day away. I would expect to see continuation to the 66-68 range on a good earnings number.
Seattle Genetics, Inc. is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company is engaged in the development and sale of pharmaceutical products on its own behalf or in collaboration with others. The Company's marketed product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC). In addition to ADCETRIS, the Company's pipeline includes other clinical-stage ADC programs, such as ASG-22ME, SGN-LIV1A, SGN-CD19A, SGN-CD19B, SGN-CD123A, SGN-352A, and ASG-15ME, as well as two immuno-oncology agents, SEA-CD40, which is based on its sugar-engineered antibody (SEA) technology, and SGN-2FF, which is a small molecule. It also has multiple preclinical and research-stage programs that employ its technologies, including SGN-CD48A and a preclinical ADC. ADCETRIS is an ADC comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent.
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SGEN
