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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.
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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 --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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