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Chelsea Therapeutics International Up 10.0%, Shares Break Through Resistance (CHTP)

Published on Wed, 03/27/2013 - 10:24
By Adrienne Chilton

Chelsea Therapeutics International (NASDAQ:CHTP) is one of today's best performing low-priced stocks, up 10.0% to $2.03 on 1.8x average daily volume. Thus far today, Chelsea Therapeutics International has traded 4.3 million shares, vs. average volume of 2.4 million shares per day. The stock has outperformed the Dow (9.7% to the Dow's -0.4%) and outperformed the S&P 500 (9.7% to the S&P's -0.4%) during today's trading.

Potential upside of 127.8% exists for Chelsea Therapeutics International, based on a current level of $2.03 and analysts' average consensus price target of $4.62. The stock should discover initial support at its 50-day moving average (MA) of $1.31 and subsequent support at its 200-day MA of $1.23.

Chelsea Therapeutics International Ltd. is a biopharmaceutical company developing a pipeline of low toxicity antifolate compounds engineered to have anti-inflammatory and anti-tumor activity. The Company's lead candidate is in development as a metabolically inert treatment alternative to Methotrexate for rheumatoid arthritis, psoriasis, and other disorders.

Over the past year, Chelsea Therapeutics International has traded in a range of $0.70 to $4.21 and is now at $2.03, 190% above that low. The 200-day and 50-day moving averages have moved 0.67% higher and 4.52% higher over the past week, respectively.

By Adrienne Chilton
achilton@fnno.com