user warning: Got error 28 from storage engine query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 441651 ORDER BY v.weight, t.weight, t.name in /var/www/www.fnno.com/htdocs/modules/taxonomy/taxonomy.module on line 617.

Buyers Accumulating Shares of Pharmacyclics on 2.2x Above-Average Volume (PCYC)

Published on Wed, 02/13/2013 - 14:11
By Mallory Stone

Pharmacyclics shares are trading on heavy volume today, having risen 7.5% to $75.66. About 956,000 shares have been traded today, as compared to the 30-day average volume of 434,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.

In the past 52 weeks, Pharmacyclics share prices have been bracketed by a low of $22.70 and a high of $76.00 and are now at $75.66, 233% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 1.2% while the 50-day MA has advanced 1.6%.

Potential upside of 6.7% exists for Pharmacyclics, based on a current level of $75.66 and analysts' average consensus price target of $80.75. The stock should discover initial support at its 50-day moving average (MA) of $64.13 and subsequent support at its 200-day MA of $54.93.

Pharmacyclics, Inc. is a pharmaceutical company developing products to improve upon current therapeutic approaches to cancer, atherosclerosis, and retinal disease. The Company's products are patented agents derived from its technology platform for designing and synthesizing energy-potentiating drugs.

By Mallory Stone
mstone@fnno.com