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Questcor Pharmaceuticals Bearish Moving Average Crossover Alert (QCOR)

Published on Tue, 03/05/2013 - 12:16
By Mallory Stone

Today, shares of Questcor Pharmaceuticals (NASDAQ:QCOR) have fallen below their 10-day MA of $31.81 on a volume of 791K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Questcor Pharmaceuticals (NASDAQ:QCOR) has potential upside of 56.8% based on a current price of $31.51 and analysts' consensus price target of $49.40. The stock should find resistance at its 200-day moving average (MA) of $34.12, as well as support at its 50-day MA of $27.76.

Questcor Pharmaceuticals, Inc. develops and commercializes novel central nervous system-focused therapeutics that address significant unmet medical needs. The Company's primary product is a natural source adrenocorticotropic hormone indicated for the treatment of acute exacerbations of multiple sclerosis, as well as a number of other conditions.

In the past 52 weeks, Questcor Pharmaceuticals share prices have been bracketed by a low of $14.52 and a high of $58.91 and are now at $31.51, 117% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.9%.

By Mallory Stone