Financial Technology

Financial Technology - INDUSTRY NEWS

Share

TMCNet:  Investors look to Lighten Up on Shares of Inovio Biomedical, Shares Down 8.9% (INO)

[November 08, 2012]

Investors look to Lighten Up on Shares of Inovio Biomedical, Shares Down 8.9% (INO)

Nov 08, 2012 (SmarTrend(R) Spotlight via COMTEX) -- Inovio Biomedical (AMEX:INO) is one of today's worst performing penny stocks, down 8.9% to $0.61 on 1.1x average daily volume. Inovio Biomedical has traded 832,000 shares thus far today, vs. average volume of 776,000 shares per day. The stock has underperformed the Dow (-9.3% to the Dow's -0.2%) and underperformed the S&P 500 (-9.3% to the S&P's -0.4%) during today's trading.
Story continues below ↓

Potential upside of 270.1% exists for Inovio Biomedical, based on a current level of $0.61 and analysts' average consensus price target of $2.25. The stock should hit resistance at its 50-day moving average (MA) of $0.63, as well as support at its 200-day MA of $0.56.

In the past 52 weeks, shares of Inovio Biomedical have traded between a low of $0.35 and a high of $0.90 and are now at $0.61, which is 74% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has risen 0.7%.

Inovio Biomedical Corporation is focused on developing multiple DNA-based immunotherapies. The Company develops applications of electroporation using brief, controlled electrical pulses to increase cellular uptake of a useful biopharmaceutical.

SmarTrend recommended that subscribers consider buying shares of Inovio Biomedical on July 19th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $0.56. Since that recommendation, shares of Inovio Biomedical have risen 20.7%. We continue to monitor INO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

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

[ Back To Financial Technology's Homepage ]