|
Traders Get Bullish on Shares of Biodel, Shares Up 5.8% (BIOD)
Feb 14, 2012 (SmarTrend(R) Spotlight via COMTEX) --
Biodel (NASDAQ:BIOD) is one of today's best performing penny stocks, up 5.8% to $0.69 on 4.1x average daily volume. Thus far today, Biodel has traded 1.0 million shares, vs. average volume of 248,000 shares per day. The stock has outperformed the Dow (5.8% to the Dow's -0.2%) and outperformed the S&P 500 (5.8% to the S&P's -0.3%) during today's trading.
Potential upside of 45.3% exists for Biodel, based on a current level of $0.69 and analysts' average consensus price target of $1.00. The stock should find resistance at its 200-day moving average (MA) of $1.19, as well as support at its 50-day MA of $0.62.
In the past 52 weeks, shares of Biodel have traded between a low of $0.51 and a high of $2.59 and are now at $0.69, which is 35% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 2%.
Biodel Inc. is a pharmaceutical company focused on the development and commercialization of treatments for endocrine disorders such as diabetes and osteoporosis.
SmarTrend is tracking the current trend status for Biodel and will alert subscribers who have BIOD in their portfolio or watchlist when shares have changed trend direction.
Write to Chip Brian at cbrian@mysmartrend.com
---------------------------------------------------------------------------------------------
SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup
[ Back To TMCnet.com's Homepage ]
|
TMCnet LOGIN
Webinars
