Durect (NASDAQ:DRRX) traded in a range yesterday that spanned from a low of $2.12 to a high of $2.22. Yesterday, the shares fell 3.17%, which took the trading range below the 3-day low of $2.19 on volume of 117,000 shares.
Shares of Durect are currently trading below their 50-day moving average (MA) of $2.57 and below their 200-day MA of $2.48. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Durect and our subscribers were alerted to Sell on May 07, 2010 at $2.56. The stock has fallen 16.4% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $2.19 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Drug Manufacturers- Other industry.