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Bullish Moving Average Cross by Neostem (NBS)

Published on Thu, 03/06/2014 - 12:23
By Peter Chu

Neostem (AMEX:NBS) crossed over its 10-day moving average of $7.08 on a volume of 183K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Neostem has traded in a range of $5.00 to $60.80 and is now at $7.21, 44% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.2%.

NeoStem, Inc. collects, processes, and stores adult stem cells for the donor's future therapeutic use.

Neostem (AMEX:NBS) has potential upside of 172.8% based on a current price of $7.21 and analysts' consensus price target of $19.67. The stock should find resistance at its 200-day moving average (MA) of $7.35, as well as support at its 50-day MA of $7.15.

By Peter Chu
pchu@fnno.com

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