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Medivation Bullish Moving Average Crossover Alert (MDVN)

Published on Tue, 03/18/2014 - 11:32
By Adrienne Chilton

Today, shares of Medivation (NASDAQ:MDVN) have advanced above their 10-day MA of $69.06 on a volume of 447K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Medivation have traded between a low of $7.76 and a high of $88.20 and are now at $69.86, which is 800% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.4%.

Medivation has overhead space with shares priced $69.86, or 25.3% below the average consensus analyst price target of $93.53. The stock should find resistance at its 50-day moving average (MA) of $75.60, as well as support at its 200-day MA of $61.94.

Medivation Inc. acquires, develops, and sells or partners biomedical technologies in the early development stage of the research and development process.

By Adrienne Chilton
achilton@fnno.com

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