Idenix Pharmaceuticals (IDIX) is a biopharmaceutical company engaged in the discovery and development of drugs for the treatment of human viral diseases with operations in the U.S. and Europe. This stock is trading up 3.9% to $9.96 in recent trading.
Today's Range: $9.58-$9.9652-Week Range: $4.60-$15.25 Volume: 354,000 Three-Month Average Volume: 1.5 million >>22 Biopharma Stocks With Breakout Potential in 2012 From a technical perspective, IDIX is bouncing notably here right near its 50-day moving average of $9.46 with light volume. This stock recently ran into some heavy resistance at around $11.30, but shares of IDIX are still well within an uptrend that started back in May at $7.36. During that uptrend, shares of IDIX have been making mostly higher lows and higher highs, which is bullish technical price action. The recent pullback for IDIX to its 50-day moving average could be representing a solid buying opportunity. Traders should now look for long-biased trades as long as IDIX can hold above both its 50-day at $9.46 and its 200-day at $9.10 with strong upside volume flows. I would consider any upside volume day that registers near or above 1.5 million shares as bullish. If those levels hold, then IDIX will have a great chance of re-testing and possibly taking out $11.30. As of the most recently reported period, IDIX was one of Seth Klarman's Baupost Group holdings.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV