Thu. Jun 8th, 2023

Seattle Genetics Inc. (SGEN:NASDAQ) is currently tracing a large top formation OR maybe a continuation pattern. Let’s look at the 10 year monthly candle chart. I have the bullish breakout with a close above 52.50 and giving a target at 74. The bearish breakdown would be confirmed with a close below 31. It’s target would be 9.50, way back to 2010 levels.

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Here is the 5 year weekly candle chart. The price action is getting closer to the bullish breakout line for now.

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A final zoom in on the 1 year daily candle chart. Price action right now in no man’s land.

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My alerts are set. Will have to wait before considering an entry. Right now, just going to view this instrument from afar.