Stock to Watch: Aastrom Biosciences Down 6.4% (ASTM)

Aug 08, 2012 (SmarTrend(R) Spotlight via COMTEX) -- Aastrom Biosciences (NASDAQ:ASTM) is one of today's worst performing low-priced stocks, down 6.4% to $1.76 on 1.8x average daily volume. Thus far today, Aastrom Biosciences has traded 486,000 shares, vs. average volume of 267,000 shares per day. The stock has underperformed the Dow (-6.4% to the Dow's 0.1%) and underperformed the S&P 500 (-6.4% to the S&P's 0.1%) during today's trading.

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There is potential upside of 214.3% for shares of Aastrom Biosciences based on a current price of $1.76 and an average consensus analyst price target of $5.53. The stock should find initial resistance at its 50-day moving average (MA) of $2.07 and further resistance at its 200-day MA of $2.11.

Aastrom Biosciences, Inc. develops autologous stem/progenitor cell products for the repair/regeneration of tissues based on Tissue Repair Cell (TRC) adult stem cell technology. The Company's products contain bone marrow stem and progenitor cells that are produced from cells originating from the patient.

Aastrom Biosciences share prices have moved between a 52-week high of $2.91 and a 52-week low of $1.75 and are now trading 1% above that low price at $1.76 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.6%.

SmarTrend is monitoring the recent change of momentum in Aastrom Biosciences. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Aastrom Biosciences in search of a potential trend change.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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