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Cytokinetics Inc Falls 28.13% on Heavy Volume: Watch For Potential Rebound

By David Diaz

Cytokinetics Inc (NASDAQ:CYTK) traded in a range yesterday that spanned from a low of $7.91 to a high of $8.22. Yesterday, the shares fell 28.1%, which took the trading range below the 3-day low of $8.62 on volume of 1.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is tracking the current trend status for Cytokinetics Inc and will alert subscribers who have CYTK in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, Cytokinetics Inc share prices have been bracketed by a low of $5.75 and a high of $14.94 and are now at $8.01, 39% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2% while the 200-day MA has risen 0.7%.

Keywords: rebounders cytokinetics inc

Ticker(s): CYTK