Boston, MA 04/09/2014 (wallstreetpr) – Celator Pharmaceuticals Inc. (NASDAQ:CPXX) recovered its losses after an intraday slide to about 2.04 and were closed at 2.96. The stock is currently trading below its 50 DMA which is at 3.30; the stock had been trading in a very narrow range, except for a couple of recent sessions where it has shown some weakness. The momentum indicators are giving a strong sell signal while the relative strength index is also not trying to get to the oversold zone, which implies the stock may further show a downward movement, one can short the stock at current levels with a stop loss at $3.21 and target of $2.00 – $1.80.
Prosensa Holding NV (NASDAQ:RNA) is lost quite a bit of ground on its last trading session, the stock had been trading in a very narrow range previously, The stock is currently trading below its 50 DMA which stands at 6.23.
The momentum indicators are flat for the stock and the relative strength index is in the oversold zone and sharply moving even downwards, which implies the stock should bounce from the current levels.
Short term traders can short the stock at current levels with a stop loss at $5.77 and a target of $4.31.
Trevena Inc. (NASDAQ:TRVN) has been on a downward bias for the past few sessions; the stock made a low of 5.76 on its intraday session and managed to gain some losses and close at 6.18 in its last trading session, the momentum indicators are giving a strong sell signal on its daily chart and the relative strength index too is not trying to move upward, which implies the stock may remain at the same level or further slide downwards.
Both positional and short term traders can short the stock at current levels with a stop loss at $7 and targets of $5 -$4.35 on a closing basis.
