Bullish Moving Average Cross by Sangamo Biosciences (SGMO)

Published on Wed, 04/08/2015 - 11:37
By Adrienne Chilton in Moving average crossovers, SGMO, moving crosses, nasdaq:sgmo, sangamo biosciences

Today, shares of Sangamo Biosciences (NASDAQ:SGMO) have advanced above their 10-day MA of $15.25 on a volume of 187K 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.

Sangamo BioSciences, Inc. researches and develops transcription factors in the regulation of genes. These transcription factors are the proteins that turn genes on and off and regulate gene expression by recognizing specific DNA sequences.

Over the past year, Sangamo Biosciences has traded in a range of $9.39 to $19.25 and is now at $15.49, 65% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has remained constant.

Sangamo Biosciences (NASDAQ:SGMO) has potential upside of 64.6% based on a current price of $15.49 and analysts' consensus price target of $25.50. The stock should hit resistance at its 50-day moving average (MA) of $15.66, as well as support at its 200-day MA of $13.63.

By Adrienne Chilton
achilton@fnno.com

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