Provectus Pharmaceuticals (NASDAQ:PVCT) traded in a range yesterday that spanned from a low of $0.96 to a high of $1.01. Yesterday, the shares fell 29.86%, which took the trading range below the 3-day low of $0.98 on volume of 91,000 shares.
Shares of Provectus Pharmaceuticals are currently trading below their 50-day moving average (MA) of $1.16 and below their 200-day MA of $1.11. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Provectus Pharmaceuticals and our subscribers were alerted to Sell on May 06, 2010 at $1.12. The stock has fallen 12.9% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $0.98 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Drug Manufacturers- Major industry.