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Bearish Moving Average Cross by Auxilium Pharmaceuticals (AUXL)

Published on Thu, 03/28/2013 - 11:13
By Adrienne Chilton

Today, shares of Auxilium Pharmaceuticals (NASDAQ:AUXL) have fallen below their 10-day MA of $17.47 on a volume of 173K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

There is potential upside of 38.7% for shares of Auxilium Pharmaceuticals based on a current price of $17.30 and an average consensus analyst price target of $24.00. The stock should find initial resistance at its 50-day moving average (MA) of $17.77 and further resistance at its 200-day MA of $21.20.

Over the past year, Auxilium Pharmaceuticals has traded in a range of $16.25 to $29.37 and is now at $17.30, 6% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has slid 0.3%.

Auxilium Pharmaceuticals Inc. develops and commercializes pharmaceutical products that target urologic and sexual health disorders. The company's marketed product ,TESTIM, is a proprietary, topical 1% testosterone gel indicated for the treatment of hypogonadism.

By Adrienne Chilton