Today, shares of Acadia Pharmaceuticals (NASDAQ:ACAD) have crossed bullishly above their 10-day moving average of $19.04 on a volume of 954K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
Acadia Pharmaceuticals share prices have moved between a 52-week high of $32.00 and a 52-week low of $11.81 and are now trading 63% above that low price at $19.23 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 2.6%.
Acadia Pharmaceuticals has overhead space with shares priced $19.23, or 42.1% below the average consensus analyst price target of $33.20. The stock should run into initial resistance at its 50-day moving average (MA) of $22.47 and subsequent resistance at its 200-day MA of $23.17.
Acadia Pharmaceuticals Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs for the treatment of central nervous system disorders. The company is currently working on the treatment of induced dysfunction in Parkinson's disease ,schizophrenia, neuropathic pain and glaucoma.