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TMCNet:  Stock to Watch: Durect Down 7.2% (DRRX)

[December 06, 2012]

Stock to Watch: Durect Down 7.2% (DRRX)

Dec 06, 2012 (SmarTrend(R) Spotlight via COMTEX) -- Durect (NASDAQ:DRRX) is one of today's worst performing penny stocks, down 7.2% to $0.90 on 1.5x average daily volume. Thus far today, Durect has traded 1.0 million shares, vs. average volume of 655,000 shares per day. The stock has underperformed the Dow (-7.2% to the Dow's -0.0%) and underperformed the S&P 500 (-7.2% to the S&P's 0.0%) during today's trading.
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Potential upside of 38.9% exists for Durect, based on a current level of $0.90 and analysts' average consensus price target of $1.25. The stock should find initial resistance at its 200-day moving average (MA) of $0.97 and further resistance at its 50-day MA of $1.26.

Durect Corporation develops and commercializes pharmaceutical systems for the treatment of chronic diseases. The pharmaceutical systems provide therapy for chronic diseases or conditions by replacing multiple injection therapy or oral dosing, improving drug efficacy, reducing side effects, and ensuring dosing compliance.

In the past 52 weeks, Durect share prices have been bracketed by a low of $0.61 and a high of $3.77 and are now at $0.90, 48% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 1.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Durect on November 1st, 2012 by issuing a Downtrend alert when the shares were trading at $1.03. Since that call, shares of Durect have fallen 5.8%. 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 --------------------------------------------------------------------------------------------- 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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