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Thursday, April 5, 2012

Unexpected Volume Observed In Shares Of (NASDAQ: SPPI)

Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI): fell by 10.65% or $-1.3/share to $10.91. In the past year, the shares have traded as low as $6.94 and as high as $16.00. On average, 1692950 shares of SPPI exchange hands on a given day and today's volume is recorded at 3428444. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $12.53 area where the stock may encounter resistance.