Ligand Pharmaceuticals: The Trend Continues Lower (LGND)
SmarTrend identified a Downtrend for Ligand Pharmaceuticals (NASDAQ: LGND) on December 17, 2009 at $1.85. In approximately 3 months, Ligand Pharmaceuticals has returned 4.4% as of today's recent price of $1.77.
Ligand Pharmaceuticals is currently below its 50-day moving average of $1.88 and below its 200-day moving average of $2.34. Look for these moving averages to decline to confirm the company's downward momentum.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Ligand Pharmaceuticals.
Write to Chip Brian at cbrian@tradethetrend.com
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