Last updated on April 17, 2014 at 10:20 EDT

Today’s Research on PDL BioPharma, Dendreon, Medivation, ACADIA Pharma, and Cell Therapeutics

March 6, 2013

LONDON, March 6, 2013 /PRNewswire/ –

On Tuesday, the markets retained their bullish mode as indices created yet another
life-time high. The markets showed across the board improvement, and the Healthcare sector
saw Johnson & Johnson creating a new all time high. The Dow Jones ended its latest session
at 14,253.77, up 0.89 percent while NASDAQ was up 1.32 percent to close at 3,224.13.
Similarly, S&P closed on a positive note at 1,539.79, up 0.96 percent. Our research team
took a look at the Healthcare sector, focusing on the biotech Industry which includes
major companies like PDL BioPharma Inc. (NASDAQ: PDLI), Dendreon Corporation (NASDAQ:
DNDN), Medivation Inc. (NASDAQ: MDVN), ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) and Cell
Therapeutics Inc. (NASDAQ: CTIC). StockCall professionals have completed their technical
analysis on PDLI, DNDN, MDVN, ACAD and CTIC and these free reports are accessible by
registering at


On top of ending its previous trading session flat, PDL BioPharma Inc. is still down
0.85 percent for the year. However, the stock has grown 6.16 percent in the past 52 weeks.
PDLI closed flat at $6.98 on volume of 2.56 million shares on Tuesday. Its average trading
volume stands at 2.01 million shares. PDL BioPharma’s shares currently face resistance at
around $7.04. The stock has support at around $6.89. It is currently trading above its
20-day, but below 50-day moving averages, which is a neutral signal. Sign up for the free
technical research on PDLI at


Dendreon Corporation traded in the range of $5.61 and $5.85 during Tuesday’s trading
session. It opened at $5.75 and closed at $5.70, down 0.35 percent. The stock is currently
in a neutral mode and has its first resistance level at $5.80. Upon breaching this level,
the company may go as high as $6.03. It traded 3.47 million shares and is above its 20-day
moving average price. Its first support level is at $5.42. So far in 2013, the stock is up
7.75 percent. Be sure to read our latest technical research on DNDN by registering at


Despite the upward movement shown by broad market indices, Medivation Inc.’s stock
finished 2.47 percent lower at $45.86, with volume up from daily average of 1.50 million
to 3.64 million. The biotech company’s stock is down so far in 2013 with a year-to-date
decline at 10.36 percent. However, the stock currently shows a bearish trend which is
further confirmed by the stock’s MACD chart. Medivation has its first support level at
$43.26. In the coming trading sessions, the stock is likely to go as high as $49.09. Sign
up and read the complimentary report on MDVN at


ACADIA Pharmaceuticals Inc.’s stock rose mildly in its latest trading session. The
stock closed 0.63 percent higher at $6.37 with 1.48 million share volume. Despite the mild
upward movement, the stock is still up more than 36 percent for the year. In the past 52
weeks, the company’s stock is up 300 percent. The stock currently has support at $6.28
level. The stock’s MACD chart shows a neutral trend. ACADIA may face its first resistance
level at $6.75. Upon breaching this level, the stock may go as high as $7.03. The free
report on ACAD can be downloaded by signing up now at


Shares of Cell Therapeutics Inc. ended flat in Tuesday’s trading session. The stock
closed at $1.26 on below average volume of 966,000 shares. The company’s shares have lost
more than 3 percent this year, underperforming the broad market. It has support at $1.15.
Despite the flat ending, Cell Therapeutics’ shares are still trading below their 50-day
and 200-day moving averages. Free report on CTIC can be accessed by registering at


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Source: PR Newswire