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Watch for Telik to Rebound after Falling 0.14% Yesterday (TELK)

Written on Fri, 07/09/2010 - 2:15am
By Chip Brian

Telik (NASDAQ:TELK) traded in a range yesterday that spanned from a low of $0.68 to a high of $0.73. Yesterday, the shares fell 0.14%, which took the trading range below the 3-day low of $0.69 on volume of 52,000 shares.
Shares of Telik are currently trading below their 50-day moving average (MA) of $0.93 and below their 200-day MA of $0.88. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Telik and our subscribers were alerted to Sell on June 09, 2010 at $0.75. The stock has fallen 8.1% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $0.69 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Biotechnology industry.

Keywords: telik trading range stock news

Ticker(s): TELK

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