Dallas, Texas 04/17/2014 (FINANCIALSTRENDS) – Inovio Pharmaceuticals Inc (NYSEMKT:INO) firmed up on Wednesday after a marginal loss on Tuesday, the stock has been on a downward momentum in the last few weeks, the stock managed to gain 2.69% and close at $2.67.
Inovio Pharmaceuticals Inc (NYSEMKT:INO) is trading above its 200 day moving average and below its 50 day moving averages which stand at $2.31 and $3.21 respectively. The stock has remained weak in the last few weeks with no signs of recovery; the stock gained some momentum after gaining a healthy amount on Wednesday.
According to the daily charts the momentum indicators for the stock are in the oversold zone, with a slight indication of an upward turn, the relative strength index for the stock is also turning upwards, this indicated a trend reversal in the making, the stock seems to have made its low and see an upside from the current levels.
The momentum indicators on the weekly charts suggest a downward bias and the relative strength index is flat, this shows the stock has weakness but could see come upside in the future trading sessions.
Inovio Pharmaceuticals Inc (NYSEMKT:INO) has a strong support around $2.43 levels , a breakout below this levels could see the stock test $2.02 levels which is its trend line support.
On an upside the stock has its first trend line resistance around $3.29; a close above this level could see the stock test $3.51 levels which is a very strong resistance level.
Insider trading alerts for Inovio Pharmaceuticals, the chief executive officer King Jong Joseph of the company bought 25,000 shares at a price of $2.25 on Tuesday (15th April); as a result of this transaction the chief executive officer King Jong Joseph now owns 6 million shares.