Radient Pharmaceuticals Corporation fka RXPC

[ED20332]

SmarTrend expects the share price to rebound toward the $0.72 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Drug Manufacturers- Other industry.


SMARTREND WATCHING FOR POTENTIAL REBOUND IN SHARES OF RADIENT PHARMACEUTICALS AFTER 9.46% LOSS (RPC)Print Share Jan 28, 2011 (SmarTrend(R) News Watch via COMTEX) -- Radient Pharmaceuticals (AMEX:RPC) traded in a range yesterday that spanned from a low of $0.58 to a high of $0.70. Yesterday, the shares fell 9.46%, which took the trading range below the 3-day low of $0.72 on volume of 15.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.

Shares of Radient Pharmaceuticals are currently trading below their 50-day moving average (MA) of $0.68 and below their 200-day MA of $0.82. Look for the MA to provide resistance for a short-term rebound in the shares.

SmarTrend currently has shares of Radient Pharmaceuticals in an Downtrend and issued the Downtrend alert on January 07, 2011 at $1.02. The stock has fallen 27.8% since the Downtrend alert was issued.

SmarTrend expects the share price to rebound toward the $0.72 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Drug Manufacturers- Other industry.

Write to Chip Brian at [e-mail]

http://www.zacks.com/research/get_news.php?id=028l2849