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Shares of Clovis Oncology Fall Below Previous 52-Week Low

By Nick Russo

Clovis Oncology (NASDAQ:CLVS) traded at a new 52-week low today of $4.80. Approximately 546,000 shares have changed hands today, as compared to an average 30-day volume of 4.4 million shares.

Potential upside of 1,516.7% exists for Clovis Oncology, based on a current level of $4.86 and analysts' average consensus price target of $78.57. Clovis Oncology shares should first meet resistance at the 50-day moving average (MA) of $8.45 and find additional resistance at the 200-day MA of $17.85.

Over the past year, Clovis Oncologyhas traded in a range of $4.80 to $35.84 and are now at $4.86. In the last five trading sessions, the 50-day moving average (MA) has fallen 9.5% while the 200-day MA has slid 1.6%.

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.

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 79.6%. 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