• Return to Headlines

After Yesterday's Decline of 2.54%, Exelixis Offers Investors Better Value (EXEL)

Written on Thu, 07/22/2010 - 2:48am
By Chip Brian

Exelixis (NASDAQ:EXEL) traded in a range yesterday that spanned from a low of $3.04 to a high of $3.24. Yesterday, the shares fell 2.54%, which took the trading range below the 3-day low of $3.10 on volume of 730,000 shares.
Shares of Exelixis are currently trading below their 50-day moving average (MA) of $4.49 and below their 200-day MA of $6.06. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Exelixis and our subscribers were alerted to Sell on May 25, 2010 at $4.93. The stock has fallen 37.7% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $3.10 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Biotechnology industry.

Keywords: exelixis trading range stock news

Ticker(s): EXEL

Contact Chip Brian



Smartrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.mysmartrend.com.

Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at http://www.mysmartrend.com/morning-call-newsletter-signup.