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Bullish Moving Average Cross by InterMune (ITMN)

Published on Thu, 03/21/2013 - 11:16
By Adrienne Chilton

Today, shares of InterMune (NASDAQ:ITMN) have advanced above their 10-day MA of $9.19 on a volume of 1.4 million shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

InterMune has overhead space with shares priced $9.59, or 31.1% below the average consensus analyst price target of $13.92. The stock should discover initial support at its 50-day moving average (MA) of $9.52 and subsequent support at its 200-day MA of $9.41.

InterMune, Inc. is a biopharmaceutical company. The Company develops therapies for hepatology and pulmonology, including treatments for severe, malignant osteopetrosis and chronic granulomatous disease

In the past 52 weeks, shares of InterMune have traded between a low of $7.21 and a high of $31.53 and are now at $9.59, which is 33% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1% while the 200-day MA has slid 0.3%.

By Adrienne Chilton
achilton@fnno.com