Rexahn (RNN) Shares Higher as Technicians Dominating the Trade; Watch $0.58 Level
Tweet Send to a Friend
Up)
Traders in the recently-volatile Rexahn Pharma (AMEX: RNN) are buying the dip Wednesday morning following some profit taking on Tuesday. The stock is up about 11 percent at last check.
After surging as much as 153 percent since the company submitted its IND for RX-5902 on July 2nd, Rexahn shares fell more than 30 percent Tuesday.
This morning the price is bumping up against an important technical level at the 200-day simple moving average. Technicians should watch the $0.57-$0.58 price range as shares could move higher if the price pushes over this technical indicator. Bulls attempted to breach the 200-day just after 10am ET, but the price moved to around $0.56 after failing to breakout.
Volume seems heavy this morning: more than 200,000 shares of the stock have already traded hands, compared to average daily volume of about 360,000 shares.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
After surging as much as 153 percent since the company submitted its IND for RX-5902 on July 2nd, Rexahn shares fell more than 30 percent Tuesday.
This morning the price is bumping up against an important technical level at the 200-day simple moving average. Technicians should watch the $0.57-$0.58 price range as shares could move higher if the price pushes over this technical indicator. Bulls attempted to breach the 200-day just after 10am ET, but the price moved to around $0.56 after failing to breakout.
Volume seems heavy this morning: more than 200,000 shares of the stock have already traded hands, compared to average daily volume of about 360,000 shares.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Fannie Mae, Freddie Mac Surge as Seriously Delinquent Rate Falls Below 3%
- Highway Holdings (HIHO) Surges, Halted on $400K Per Year Order
- UPDATE: Chile regulators stopped build, imposed sanctions on Barrick Gold (ABX)
Create E-mail Alert Related Categories
Momentum Movers, Trader Talk
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
