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Hot Stock: Peregrine Pharmaceuticals, Shares Gain 5.3% (PPHM)May 13, 2013 (SmarTrend(R) Spotlight via COMTEX) -- Peregrine Pharmaceuticals (NASDAQ:PPHM) is one of today's best performing low-priced stocks, up 5.3% to $1.49 on 1.3x average daily volume. Thus far today, Peregrine Pharmaceuticals has traded 2.1 million shares, vs. average volume of 1.6 million shares per day. The stock has outperformed the Dow (5.3% to the Dow's -0.2%) and outperformed the S&P 500 (5.3% to the S&P's -0.1%) during today's trading. Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company. The Company is focused on the research, development and commercialization of novel therapeutics for cancer and a wide range of viral diseases. In the past 52 weeks, Peregrine Pharmaceuticals share prices have been bracketed by a low of $0.42 and a high of $5.50 and are now at $1.49, 254% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%. Peregrine Pharmaceuticals has overhead space with shares priced $1.49, or 53.1% below the average consensus analyst price target of $3.17. Peregrine Pharmaceuticals shares should encounter resistance at the 200-day moving average (MA) of $1.67 and support at the 50-day MA of $1.40. SmarTrend recommended that its subscribers protect gains by selling shares of Peregrine Pharmaceuticals on February 20th, 2013 by issuing a Downtrend alert when the shares were trading at $1.71. Since that call, shares of Peregrine Pharmaceuticals have fallen 17.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time. 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 |