SEAGEN INC.

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Change:	-
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Type:	Stocks
Ticker:	SGEN
ISIN:

SEAGEN INC. - Daily - Technical analysis published on 07/11/2019 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

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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.

Comment on the analysis

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:

The study of the highest / lowest by the Central Records scanner shows the following result:

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

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

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

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:

This member declared not having a position on this financial instrument or a related financial instrument.

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