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Stock to Watch: Cytokinetics Up 7.3% (CYTK)
Jan 24, 2013 (SmarTrend(R) Spotlight via COMTEX) --
Cytokinetics (NASDAQ:CYTK) is one of today's best performing low-priced stocks, up 7.3% to $1.11 on 1.1x average daily volume. Cytokinetics has traded 557,000 shares thus far today, vs. average volume of 510,000 shares per day. The stock has outperformed the Dow (7.3% to the Dow's 0.6%) and outperformed the S&P 500 (7.3% to the S&P's 0.3%) during today's trading.
Cytokinetics, Incorporated is a biopharmaceutical company that combines life sciences and information technologies to accelerate and enhance the productivity of drug discovery and development. The Company focuses on the novel small molecule drugs that specifically target the cytoskeleton, a complex, dynamic framework that impacts all aspects of cell functions.
Cytokinetics (NASDAQ:CYTK) has potential upside of 209.2% based on a current price of $1.10 and analysts' consensus price target of $3.42. The stock should find initial support at its 200-day moving average (MA) of $0.80 and further support at its 50-day MA of $0.75.
Cytokinetics share prices have moved between a 52-week high of $1.29 and a 52-week low of $0.57 and are now trading 94% above that low price at $1.10 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 2.1%.
SmarTrend recommended that subscribers consider buying shares of Cytokinetics on January 7th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $0.82. Since that recommendation, shares of Cytokinetics have risen 25.6%. We continue to monitor CYTK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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