Halozyme Therapeutics (NASDAQ:HALO) shares have crossed bullishly above their 10-day moving average of $5.78 on a volume of 5.3 million 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.
There is potential upside of 28.4% for shares of Halozyme Therapeutics based on a current price of $7.01 and an average consensus analyst price target of $9.00. The stock should find resistance at its 200-day moving average (MA) of $7.81, as well as support at its 50-day MA of $5.73.
Halozyme Therapeutics, Inc. develops and commercializes recombinant human enzymes for the infertility, ophthalmology, and oncology communities. The Company's product portfolio is based on intellectual property covering the family of human enzymes known as hyaluronidases. Halozyme's products offer an alternative to slaughterhouse-derived extracts that carry contamination risks.
In the past 52 weeks, Halozyme Therapeutics share prices have been bracketed by a low of $3.86 and a high of $13.50 and are now at $7.01, 82% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.1% while the 200-day MA has slid 1.9%.
