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TMCNet: Downtrend Call Working As Rigel Pharmaceuticals Stock Falls 17.1% (RIGL)

[May 28, 2012]

Downtrend Call Working As Rigel Pharmaceuticals Stock Falls 17.1% (RIGL)

May 28, 2012 (SmarTrend(R) Spotlight via COMTEX) -- SmarTrend identified a Downtrend for Rigel Pharmaceuticals (NASDAQ:RIGL) on March 6th, 2012 at $9.06. In approximately 3 months, Rigel Pharmaceuticals has returned 17.11% as of today's recent price of $7.51.


Rigel Pharmaceuticals share prices have moved between a 52-week high of $10.60 and a 52-week low of $6.57 and are now trading 14% above that low price at $7.51 per share. The 200-day and 50-day moving averages have moved 0.08% higher and 1.49% lower over the past week, respectively.

Rigel Pharmaceuticals, Inc. discovers and develops novel, small molecule drugs in four lead product development programs: allergy/asthma, autoimmune disorders, hepatitis C, and cancer. The Company's first product candidate, R112, for allergic rhinitis is already in clinical testing. Rigel plans to begin clinical trials with the three additional drug candidates over the next 12 months.

SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Rigel Pharmaceuticals.

Log in and add Rigel Pharmaceuticals (RIGL) to your watchlist today so you can receive a real-time alert when the shares are about to change trend.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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