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Clovis Oncology Looks to Continue to Trade Below its Annual-Low Share Price Today

By Amy Schwartz

Shares of Clovis Oncology (NASDAQ:CLVS) traded at a new 52-week low today of $33.85. This new low was reached on below average trading volume as 82,000 shares traded hands, while the average 30-day volume is approximately 1 million shares.

In the past 52 weeks, Clovis Oncology share prices have been bracketed by a current low of $33.85 and a high of $86.26 and are now at $34.76. Over the last five market days, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has declined 2.2%.

Clovis Oncology Inc. is a biopharmaceutical company. The Company is focused on acquiring, developing, and commercializing innovative anti-cancer agents in the United States, Europe and additional international markets. Clovis target its development programs for the treatment of specific subsets of cancer populations.

Potential upside of 126.0% exists for Clovis Oncology, based on a current level of $34.76 and analysts' average consensus price target of $78.57. The stock should find initial resistance at its 50-day moving average (MA) of $45.08 and further resistance at its 200-day MA of $55.09.

SmarTrend recommended that its subscribers protect gains by selling shares of Clovis Oncology on July 25th, 2018 by issuing a Downtrend alert when the shares were trading at $44.69. Since that call, shares of Clovis Oncology have fallen 22.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows clovis oncology

Ticker(s): CLVS