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Stock to Watch: Dynavax Technologies Down 7.2% (DVAX)
Feb 20, 2013 (SmarTrend(R) Spotlight via COMTEX) --
Dynavax Technologies (NASDAQ:DVAX) is one of today's worst performing low-priced stocks, down 7.2% to $2.74 on 1.6x average daily volume. Thus far today, Dynavax Technologies has traded 4.0 million shares, vs. average volume of 2.4 million shares per day. The stock has underperformed the Dow (-7.2% to the Dow's -0.1%) and underperformed the S&P 500 (-7.2% to the S&P's -0.4%) during today's trading.
Dynavax Technologies Corporation discovers, develops, and is seeking to commercialize products based on immunostimulatory sequences. The Company is developing products to treat and prevent allergies, infectious diseases, and chronic inflammatory diseases using approaches that alter immune system responses in specific ways.
Potential upside of 114.6% exists for Dynavax Technologies, based on a current level of $2.74 and analysts' average consensus price target of $5.88. Dynavax Technologies shares should first meet resistance at the 50-day moving average (MA) of $2.97 and find additional resistance at the 200-day MA of $3.79.
In the past 52 weeks, shares of Dynavax Technologies have traded between a low of $1.75 and a high of $5.34 and are now at $2.74, which is 56% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 0.4%.
SmarTrend is tracking the current trend status for Dynavax Technologies and will alert subscribers who have DVAX in their portfolio or watchlist when shares have changed trend direction.
Write to Chip Brian at cbrian@mysmartrend.com
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