NEW YORK, NY / ACCESSWIRE / May 11, 2018 / U.S. markets eked out gains on Thursday, on the back of positive economic data and strong performance from the technology sector. The technology sector has gained almost 7% in May which is a much steeper gain than any other sector. The Dow Jones Industrial Average jumped 0.80 percent to close at 24,739.53, logging its 6th day of gain, while the S&P 500 Index spiked 0.94 percent to close at 2,723.07. The Nasdaq Composite Index rose 0.89 percent to close at 7,404.97.
“Because this handful of stocks (in technology sector) are continuing to lead, it will be hard to get the kind of market breadth that you'd like to see signal a more positive backdrop. I'd like to see broader participation, and more trading volume on positive days. Until we get that, then I'm not sure that the consolidation phase has ended,” said William Delwiche, an investment strategist at Robert W. Baird.
RDI Initiates Coverage on:
Synergy Pharmaceuticals Inc.
Intrexon's stock moved 0.11% higher Thursday, to close the day at $18.64. The stock recorded a trading volume of 1,490,066 shares, which was above its three months average volume of 1,327,113 shares. In the last year, Intrexon's shares have traded in a range of 10.26 - 26.99. The share price has gained 81.68% from its 52 week low. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $17.73 is above its 200-day moving average of $14.89. Shares of Intrexon have gained roughly 2.7 percent in the past month and are up 61.81 percent year-to-date.
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On Thursday, shares of Synergy Pharmaceuticals recorded a trading volume of 3,338,220 shares, which was below the three months average volume of 3,770,488 shares. The stock ended the day 2.4% lower at $1.63. The share price has fallen 66.32% from its 52 week high with a 52 week trading range of 1.43 - 4.84. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $1.73 is below its 200-day moving average of $2.08. Shares of Synergy Pharmaceuticals have fallen roughly 13.76 percent in the past month and are down 26.91 percent year-to-date.
Access RDI's Synergy Pharmaceuticals Inc. Research Report at:
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