Telik Tests New Technical Support Levels

Posted on 02/19/2013 by Peter Mankowitz

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NEW YORK (AVAFIN) -- Shares of Telik closed above the 50-day moving average of $1.72 on Tuesday. When analyzing trading patterns, technical analysts and investors will view this development as a sign of strength. The stock price when compared to it's moving average can be used as an indicator to determine the trend. As long as stock movement maintains it's current trajectory investors will view it as a sign of strength.

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Fundamental changes that are above or below investors expectations trigger the development of support levels. This development is the probably the most noticeable and reoccurring event on stock charts that can serve as a key data point. Based on the pivot points, the current support and resistance levels for TELK are within the $1.57 - $1.97 range.

Performance metrics indicate that the stock has lost 64.51% within the last year. The average analyst rating for the stock is hold.

Telik, Inc. is a clinical-stage drug development company, which is focused on discovering and developing small molecule drugs to treat cancer and inflammatory diseases.



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