Watch for Continued Gains in Shares of MAP Pharmaceuticals (MAPP)
MAP Pharmaceuticals (NASDAQ:MAPP) traded today at a new 52-week high of $24.78. This new high was reached on above average trading volume as 1.3 million shares traded hands, while the average 30-day volume is approximately 223,000 shares.
MAP Pharmaceuticals (NASDAQ:MAPP) is currently priced 6.2% above its average consensus analyst price target of $23.20. The stock should discover initial support at its 50-day moving average (MA) of $15.35 and subsequent support at its 200-day MA of $14.27.
Over the past year, MAP Pharmaceuticals has traded in a range of $10.54 to $24.78 and is now at $24.74, 135% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.6% while the 200-day MA has risen 0.4%.
MAP Pharmaceuticals Inc. is a biopharmaceutical company. The Company develops treatments for respiratory and CNS diseases.
SmarTrend recommended that subscribers consider buying shares of MAP Pharmaceuticals on November 23rd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $15.11. Since that recommendation, shares of MAP Pharmaceuticals have risen 63.6%. We continue to monitor MAPP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows map pharmaceuticals