I have been watching CEGE closely, another biotech stock in the face of today’s broad market weakness. It is holding up quite well and I am impressed so far. I am also impressed in CEGE’s breakout on big volume two days ago that marked a valid break of it’s longer term down trending resistance line (the blue line).
So today CEGE is not giving that much back and I am thinking a buy stop at .38 may be worth a shot but it must hold above that level for me to stay bullish.
This is only a short update on CEGE and I will post more later in the day.