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Clovis Oncology: The Losing Streak Continues (CLVS)

By James Quinn

Shares of Clovis Oncology (NASDAQ:CLVS) traded today at $5.19, breaking its 52-week low. This new low was reached on below average trading volume as 586,000 shares traded hands, while the average 30-day volume is approximately 3.2 million shares.

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.

Clovis Oncology share prices have moved between a 52-week high of $37.27 and the current low of $5.19 and are currently at $5.19 per share. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 4.5%.

Clovis Oncology (NASDAQ:CLVS) has potential upside of 1,413.9% based on a current price of $5.19 and analysts' consensus price target of $78.57. The stock should run into initial resistance at its 50-day moving average (MA) of $12.01 and subsequent resistance at its 200-day MA of $18.91.

SmarTrend recommended that its subscribers protect gains by selling shares of Clovis Oncology on March 25th, 2019 by issuing a Downtrend alert when the shares were trading at $23.84. Since that call, shares of Clovis Oncology have fallen 77.6%. 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