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Watch for Continued Gains in Shares of Sanofi-Aventis (SNY)

Published on Wed, 01/02/2013 - 15:36
By Peter Chu

Sanofi-Aventis (NYSE:SNY) traded at a new 52-week high today of $48.10. This new high was reached on below average trading volume as 475,000 shares traded hands, while the average 30-day volume is approximately 1.2 million shares.

In the past 52 weeks, shares of Sanofi-Aventis have traded between a low of $33.03 and a high of $48.10 and are now at $47.75, which is 45% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.6%.

Potential upside of 10.7% exists for Sanofi-Aventis, based on a current level of $47.75 and analysts' average consensus price target of $52.87. The stock should discover initial support at its 50-day moving average (MA) of $45.07 and subsequent support at its 200-day MA of $40.40.

Sanofi-Aventis is a global pharmaceutical company that researches, develops and manufactures prescription pharmaceuticals and vaccines. The Company develops cardiovascular, thrombosis, metabolic disorder, central nervous system, internal medicine and oncology drugs, and vaccines.

By Peter Chu
pchu@fnno.com

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