SEAGEN INC. - Daily - Technical analysis published on 07/11/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
SEAGEN INC. Chart
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
11%
72%
17%
My opinion
Bearish under 68.98 USD
My targets
63.99 USD (-3.41%)
60.95 USD (-8.00%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on SEATTLE GENETICS INC. as long as the price remains well below 68.98 USD. The sellers” bearish objective is set at 63.99 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 60.95 USD. In case of crossing, the next objective would be the support located at 58.14 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Vincent Launay.
Additional analysis
Quotes
SEATTLE GENETICS INC. rating 66.25 USD. On the day, this instrument lost -5.21% and was traded between 66.15 USD and 70.44 USD over the period. The price is currently at +0.15% from its lowest and -5.95% from its highest.66.15
70.44
66.25
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of SEATTLE GENETICS INC. indicates that the overall trend is strongly bearish. The signals given by moving averages are 89.29% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : Daily
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : Daily
An assessment of technical indicators shows a strong bearish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
MACD indicator: bullish divergence
Type : Bullish
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
RSI indicator is back over 50
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Support of channel is broken
Type : Bearish
Timeframe : Daily
Support of triangle is broken
Type : Bearish
Timeframe : Daily
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Downside Tasuki gap
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 58.14 | 60.95 | 63.99 | 66.25 | 68.98 | 73.71 | 77.04 |
| Change (%) | -12.24% | -8.00% | -3.41% | - | +4.12% | +11.26% | +16.29% |
| Change | -8.11 | -5.30 | -2.26 | - | +2.73 | +7.46 | +10.79 |
| Level | Minor | Minor | Major | - | Intermediate | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 63.61 | 65.18 | 67.53 | 69.10 | 71.45 | 73.02 | 75.37 |
| Camarilla | 68.81 | 69.17 | 69.53 | 69.89 | 70.25 | 70.61 | 70.97 |
| Woodie | 64.01 | 65.38 | 67.93 | 69.30 | 71.85 | 73.22 | 75.77 |
| Fibonacci | 65.18 | 66.67 | 67.60 | 69.10 | 70.59 | 71.52 | 73.02 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 63.05 | 65.08 | 67.07 | 69.10 | 71.09 | 73.12 | 75.11 |
| Camarilla | 67.95 | 68.31 | 68.68 | 69.05 | 69.42 | 69.79 | 70.16 |
| Woodie | 63.02 | 65.07 | 67.04 | 69.09 | 71.06 | 73.11 | 75.08 |
| Fibonacci | 65.08 | 66.62 | 67.57 | 69.10 | 70.64 | 71.59 | 73.12 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 43.31 | |
| MACD (12,26,9): | -0.2300 | |
| Directional Movement: | 4.15 | |
| AROON (14): | -92.86 | |
| DEMA (21): | 68.70 | |
| Parabolic SAR (0,02-0,02-0,2): | 71.18 | |
| Elder Ray (13): | -0.43 | |
| Super Trend (3,10): | 66.19 | |
| Zig ZAG (10): | 66.25 | |
| VORTEX (21): | 0.9600 | |
| Stochastique (14,3,5): | 19.87 | |
| TEMA (21): | 68.49 | |
| Williams %R (14): | -98.75 | |
| Chande Momentum Oscillator (20): | -5.49 | |
| Repulse (5,40,3): | -6.0500 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0300 | |
| Courbe Coppock: | 6.33 |
| MA7: | 68.55 | |
| MA20: | 69.45 | |
| MA50: | 68.17 | |
| MA100: | 70.63 | |
| MAexp7: | 68.32 | |
| MAexp20: | 68.87 | |
| MAexp50: | 69.16 | |
| MAexp100: | 69.36 | |
| Price / MA7: | -3.36% | |
| Price / MA20: | -4.61% | |
| Price / MA50: | -2.82% | |
| Price / MA100: | -6.20% | |
| Price / MAexp7: | -3.03% | |
| Price / MAexp20: | -3.80% | |
| Price / MAexp50: | -4.21% | |
| Price / MAexp100: | -4.48% |
News
The latest news and videos published on SEATTLE GENETICS INC. at the time of the analysis were as follows:
- Astellas and Seattle Genetics Announce Antibody-Drug Conjugate Enfortumab Vedotin Produced Tumor Response Rate of 44 Percent in Patients with Most Common Type of Advanced Urothelial (Bladder) Cancer
- Seattle Genetics and Astellas Announce Antibody-Drug Conjugate Enfortumab Vedotin Produced Tumor Response Rate of 44 Percent in Patients with Most Common Type of Advanced Urothelial (Bladder) Cancer
- Seattle Genetics and Astellas Announce Positive Topline Results from Pivotal Trial of Enfortumab Vedotin in Locally Advanced or Metastatic Urothelial Cancer
- Seattle Genetics to Present at Cowen and Company 39th Annual Health Care Conference
- Seattle Genetics Achieves $30 Million Milestone Payment for European Commission Approval of ADCETRIS® (Brentuximab Vedotin) in Frontline Hodgkin Lymphoma
This member declared not having a position on this financial instrument or a related financial instrument.
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