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Traders Get Bullish on Shares of Chelsea Therapeutics International, Shares Up 85.5% (CHTP)
Feb 20, 2013 (SmarTrend(R) Spotlight via COMTEX) --
Chelsea Therapeutics International (NASDAQ:CHTP) is one of today's best performing low-priced stocks, up 85.5% to $1.42 on 25.7x average daily volume. Thus far today, Chelsea Therapeutics International has traded 10.0 million shares, vs. average volume of 390,000 shares per day. The stock has outperformed the Dow (85.5% to the Dow's -0.0%) and outperformed the S&P 500 (85.5% to the S&P's -0.3%) during today's trading.
In the past 52 weeks, shares of Chelsea Therapeutics International have traded between a low of $0.70 and a high of $4.40 and are now at $1.42, which is 103% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 3.1%.
Chelsea Therapeutics International (NASDAQ:CHTP) has potential upside of 146.5% based on a current price of $1.42 and analysts' consensus price target of $3.50. The stock should discover initial support at its 200-day moving average (MA) of $1.25 and subsequent support at its 50-day MA of $0.86.
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.
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 33.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Write to Chip Brian at cbrian@mysmartrend.com
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