• Return to Headlines

Watch for Continued Losses in Shares of Transenterix Inc (TRXC)

By Nick Russo

Shares of Transenterix Inc (AMEX:TRXC) traded at a new 52-week low today of $0.65. This new low was reached on below average trading volume as 846,000 shares traded hands, while the average 30-day volume is approximately 2.7 million shares.

Over the past year, Transenterix Inchas traded in a range of $0.65 to $6.98 and are now at $0.65. The 200-day and 50-day moving averages have moved 2.18% lower and 2.74% lower over the past week, respectively.

Transenterix Inc has overhead space with shares priced $0.65, or 83.9% below the average consensus analyst price target of $4.00. Transenterix Inc shares should first meet resistance at the 50-day moving average (MA) of $1.17 and find additional resistance at the 200-day MA of $1.99.

TransEnterix, Inc., a medical device company, engages in the research, development, and sale of medical device robotics to enhance minimally invasive surgery.

SmarTrend recommended that its subscribers protect gains by selling shares of Transenterix Inc on August 8th, 2019 by issuing a Downtrend alert when the shares were trading at $1.03. Since that call, shares of Transenterix Inc have fallen 37.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows amex:trxc transenterix inc

Ticker(s): TRXC