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Zalicus Down 6.1%, Shares Slide into the Red (ZLCS)Apr 22, 2013 (SmarTrend(R) Spotlight via COMTEX) -- Zalicus (NASDAQ:ZLCS) is one of today's worst performing penny stocks, down 6.1% to $0.49 on 1.1x average daily volume. Thus far today, Zalicus has traded 498,000 shares, vs. average volume of 468,000 shares per day. The stock has underperformed the Dow (-6.1% to the Dow's -0.4%) and underperformed the S&P 500 (-6.1% to the S&P's -0.2%) during today's trading. Zalicus (NASDAQ:ZLCS) has potential upside of 310.2% based on a current price of $0.49 and analysts' consensus price target of $2.00. The stock should find initial resistance at its 50-day moving average (MA) of $0.66 and further resistance at its 200-day MA of $0.80. Over the past year, Zalicus has traded in a range of $0.38 to $3.21 and is now at $0.49, 29% above that low. Over the past week, the 200-day moving average (MA) has gone down 2% while the 50-day MA has declined 2.8%. Zalicus Inc is a biopharmaceutical company that discovers and develops novel treatments for patients suffering from pain and immuno-inflammatory diseases. The Company's drug pipeline includes an arthritis formula in phase 2 development. SmarTrend is monitoring the recent change of momentum in Zalicus. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Zalicus in search of a potential trend change. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- 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 |