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Sellers Reduce Exposure to Shares of Hologic on 1.5x Above-Average Volume (HOLX)

Published on Thu, 05/02/2013 - 13:16
By Robert Cotter

Hologic's stock is down 1.7% to $19.92 on heavy trading volume. Approximately 3.3 million shares have changed hands today vs. average 30-day volume of 2.2 million shares. Spikes in volume can validate a breakout or signify a potential turning point.

There is potential upside of 27.4% for shares of Hologic based on a current price of $19.92 and an average consensus analyst price target of $25.38. Hologic shares should first meet resistance at the 200-day moving average (MA) of $20.84 and find additional resistance at the 50-day MA of $21.75.

In the past 52 weeks, shares of Hologic have traded between a low of $13.90 and a high of $23.96 and are now at $19.92, which is 43% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has remained constant.

Hologic, Inc. develops, manufactures, and markets x-ray systems. The Company makes x-ray bone densitometers that measure the precise bone density for use in the diagnosing of metabolic bone diseases such as osteoporosis.

By Robert Cotter
rcotter@fnno.com