user warning: Table './fnndrupaldev/term_node' is marked as crashed and last (automatic?) repair failed query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 490352 ORDER BY v.weight, t.weight, t.name in /var/www/www.fnno.com/htdocs/modules/taxonomy/taxonomy.module on line 617.

Stock to Watch: MELA Sciences Down 14.6% (MELA)

Published on Wed, 05/01/2013 - 10:25
By Mallory Stone

MELA Sciences (NASDAQ:MELA) is one of today's worst performing low-priced stocks, down 14.6% to $1.05 on 2.2x average daily volume. Thus far today, MELA Sciences has traded 978,000 shares, vs. average volume of 445,000 shares per day. The stock has underperformed the Dow (-14.6% to the Dow's -0.3%) and underperformed the S&P 500 (-14.6% to the S&P's -0.3%) during today's trading.

Electro-Optical Sciences, Inc. is a medical device company focused on the design and development of a non-invasive, point-of-care instrument to assist in the early diagnosis of melanoma. The Company's product features a device that captures images of suspicious pigmented skin lesions and extracts data. The data are then analyzed in order to provide information to the physician.

MELA Sciences (NASDAQ:MELA) has potential upside of 138.1% based on a current price of $1.05 and analysts' consensus price target of $2.50. The stock should run into initial resistance at its 50-day moving average (MA) of $1.25 and subsequent resistance at its 200-day MA of $2.37.

In the past 52 weeks, MELA Sciences share prices have been bracketed by a current low of $1.04 and a high of $6.96 and are now at $1.05. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.2% while the 200-day MA has slid 1.4%.

By Mallory Stone
mstone@fnno.com

Latest News from FNNO

Shares of NII Holdings Have Fallen Below...

Shares of NII Holdings (NASDAQ:NIHD) traded at a new 52-week low today of $0.07. Appro ...

Mizuho Financial: New 52-Week Low Set To...

Mizuho Financial (NYSE:MFG) traded at a new 52-week low today of $3.74. So far today a ...

Watch for Continued Gains in Shares of M...

Shares of Masco (NYSE:MAS) traded at a new 52-week high today of $24.20. Approximately ...

Shares of Las Vegas Sands Fall Below Pre...

Shares of Las Vegas Sands (NYSE:LVS) traded today at $59.52, breaking its 52-week low. ...

Kohl's: 52-Week High Recently Eclipsed (...

Shares of Kohl's (NYSE:KSS) traded today at $61.00, breaking its 52-week high. So far ...

Shares of Kirby Rise to a New 52-Week Hi...

Kirby (NYSE:KEX) traded at a new 52-week high today of $123.71. So far today approxima ...

Shares of International Rectifier Rise t...

International Rectifier (NYSE:IRF) traded today at a new 52-week high of $39.74. This ...

Interactive Brokers Looks to Continue to...

Shares of Interactive Brokers (NASDAQ:IBKR) traded at a new 52-week high today of $25.3 ...