Stock to Watch: Chelsea Therapeutics International Down 7.4% (CHTP)
Chelsea Therapeutics International (NASDAQ:CHTP) is one of today's worst performing penny stocks, down 7.4% to $0.75 on 1.5x average daily volume. Thus far today, Chelsea Therapeutics International has traded 2.1 million shares, vs. average volume of 1.4 million shares per day. The stock has underperformed the Dow (-7.7% to the Dow's -0.6%) and underperformed the S&P 500 (-7.7% to the S&P's -0.5%) during today's trading.
Chelsea Therapeutics International Ltd. is a biopharmaceutical company developing a pipeline of low toxicity antifolate compounds engineered to have anti-inflammatory and anti-tumor activity. The Company's lead candidate is in development as a metabolically inert treatment alternative to Methotrexate for rheumatoid arthritis, psoriasis, and other disorders.
Chelsea Therapeutics International (NASDAQ:CHTP) has potential upside of 368.0% based on a current price of $0.75 and analysts' consensus price target of $3.50. The stock should run into initial resistance at its 50-day moving average (MA) of $1.35 and subsequent resistance at its 200-day MA of $1.56.
Chelsea Therapeutics International share prices have moved between a 52-week high of $5.40 and a 52-week low of $0.70 and are now trading 7% above that low price at $0.75 per share. Over the last five market days, the 200-day moving average (MA) has gone down 2.5% while the 50-day MA has declined 1.8%.
SmarTrend recommended that its subscribers protect gains by selling shares of Chelsea Therapeutics International on December 5th, 2012 by issuing a Downtrend alert when the shares were trading at $1.16. Since that call, shares of Chelsea Therapeutics International have fallen 29.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: penny stocks chelsea therapeutics international