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Traders Get Bullish on Shares of Pacific Biosciences of California , Shares Up 8.3% (PACB)

Published on Tue, 01/08/2013 - 13:22
By Peter Chu

Pacific Biosciences of California (NASDAQ:PACB) is one of today's best performing low-priced stocks, up 8.3% to $1.95 on 1.3x average daily volume. Thus far today, Pacific Biosciences of California has traded 432,000 shares, vs. average volume of 332,000 shares per day. The stock has outperformed the Dow (8.3% to the Dow's -0.6%) and outperformed the S&P 500 (8.3% to the S&P's -0.6%) during today's trading.

Pacific Biosciences of California (NASDAQ:PACB) has potential upside of 8.5% based on a current price of $1.95 and analysts' consensus price target of $2.12. The stock should hit resistance at its 200-day moving average (MA) of $2.03, as well as support at its 50-day MA of $1.49.

In the past 52 weeks, shares of Pacific Biosciences of California have traded between a low of $1.06 and a high of $5.27 and are now at $1.95, which is 84% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has advanced 2.5%.

Pacific Biosciences of California Inc. has developed a novel approach to studying the synthesis and regulation of DNA, RNA and protein. The Company's system enables real-time analysis of biomolecules with single molecule resolution.

By Peter Chu
pchu@fnno.com