Dec 31, 2009 (SmarTrend(R) Spotlight via COMTEX) -- SmarTrend identified an Uptrend for Novelos Therapeutics (NVLT) on August 04, 2009 at $0.82. In approximately 5 months, Novelos Therapeutics has returned 158.5% as of today's recent price of $2.12.
Novelos Therapeutics is currently above its 50-day moving average of $0.93 and above its 200-day moving average of $0.72. Look for these moving averages to climb to confirm the company's upward momentum.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any shifts in the trajectory of Novelos Therapeutics shares.
Write to Chip Brian at cbrian@tradethetrend.com