$CELG possible bullish breakout above 200-day SMA

Ticker: $CELG
Trading set up: bullish breakout on 200-day SMA (possible but not guaranteed)

Summary: $CELG was downtrend from the time it got demolished in November 2017 up to June 2018.  During that time, the price struggled to hold onto any support and bears just pulled it down to its lowest in the $80's low.  There was money made for many bears.  I am happy for them for winning during that time.  From June 2018 - July 2018, bulls staged a fight and held $CELG's price right around the $80's as it got established as a strong support.  From July to date, there is a clear bullish price action as manifested by three times the price briefly touched 200-day simple moving average.  I also noticed an increase in volume in the last few days.  

Possible Scenarios:  After a long period of downtrend, $CELG now appears to have bottomed.  Bulls are trying to stage a run and if they can get the price above the 200-day moving average with sustained volume, it can offer a juicy upside.  If bears resume what they have done in the last 8 months, they can break bulls necks and sink the price some more.

Trading plan: I will open a properly sized long position with a stop loss set at 2x ATR for a predetermined and acceptable loss.  If the trade goes my way, trailing stop will be the best approach to atleast squeeze as much profit as I can.  

Prediction:  None

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