Morning Update -CELG, CEPH, & PSYS

Celgene Corp. (CELG) Daily chart
Celegene's daily chart shows that it has broken out of ascending triangle pattern. On the daily, you can see that CELG closed up 1.69% at $71.15. Furthermore the indicators and oscillators are bullish. the PPO continues to make new highs along with price.

Cephalon, Inc. (CEPH) Daily chart
On the daily chart, you can see that CEPH has been trading below the downtrend channel. The breakout for CEPH is above the downtrend line. On the weekly chart CEPH is in a Slim Jim pattern. New all time highs will be above $83.00 where there will no overhead resistance.

Psychiatric Solutions, Inc. (PSYS)
The PSYS daily chart illustrates that it is forming a bull flag. PSYS is up 1.57%% at $32.99. I am bringing up this chart because you may want to buy it as a swing trade. When you buy a bull flag there are rules to executing that type of trade. This is the rule -- you may only buy once it has taken out the previous day's high. Once it crosses $33.01 you may buy it. You then set your stop loss at the previous day's lows, which is $32.23. Therefore, your risk for the trade is 0.76 cents, while your upside potential is as high as it goes until it stops going up. Remember, if it does not take out the previous days highs, you do not execute that trade. In any case, this stock looks poised to move to the $40-$45 area, especially because of the high short interest. Indicators and oscillators are in a bullish trend reversal.