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Investors look to Lighten Up on Shares of CytRx, Shares Down 7.5% (CYTR)
[November 13, 2012]

Investors look to Lighten Up on Shares of CytRx, Shares Down 7.5% (CYTR)

Nov 13, 2012 (SmarTrend(R) Spotlight via COMTEX) -- CytRx (NASDAQ:CYTR) is one of today's worst performing low-priced stocks, down 7.5% to $1.73 on 1.3x average daily volume. CytRx has traded 329,000 shares thus far today, vs. average volume of 261,000 shares per day. The stock has underperformed the Dow (-7.5% to the Dow's 0.1%) and underperformed the S&P 500 (-7.5% to the S&P's 0.2%) during today's trading.

CytRx Corporation is a biopharmaceutical company focused on the development and commercialization of high-value human therapeutics. CytRx has a strategic alliance with the University of Massachusetts Medical School that has given the company unparalleled access to RNAi technology and serves as a broad platform for a myriad of drug discovery applications including obesity, diabetes, & ALS.

Over the past year, CytRx has traded in a range of $0.24 to $5.50 and is now at $1.73, 621% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 1.2% while the 50-day MA has declined 3.6%.

CytRx (NASDAQ:CYTR) has potential upside of 709.2% based on a current price of $1.73 and analysts' consensus price target of $14.00. The stock should run into initial resistance at its 200-day moving average (MA) of $2.51 and subsequent resistance at its 50-day MA of $3.51.

SmarTrend recommended that its subscribers protect gains by selling shares of CytRx on September 28th, 2012 by issuing a Downtrend alert when the shares were trading at $3.69. Since that call, shares of CytRx have fallen 49.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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