Clovis Oncology Continues Lower After Consoidation

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Clovis Oncology Inc.
CLVS
shares are trading lower by $1.56 at $24.85 in Monday's session. The issue, which declined from $99.43 to $30.24 one week ago is under selling pressure. Following the big decline, it had three days of tight and nearly identical ranges ($25.91 to $27.78, with all closes in the $26 handle. After being unable to hold Friday's close of the open ($26.41), reaching $26.66 and failing, it began to move lower. So far, it has reached $24.58 and is attempting to reclaim the $25 handle.
Joel Elconin is the co-host of Benzinga;s #PreMarket Prep, a daily trading idea radio show.
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