Investor Alley Inc.

Penny Stocks on the Move for Mid-Day November 16th: (NASDAQ: DVAX), (NYSE: MGM).


New York, NY -- (ReleaseWire) -- 11/16/2012 --MGM recently reported its third-quarter financial results. MGM Resorts International Inc. (NYSE: MGM), a casino operator, is amongst the major gainers on the NYSE today. The stock is currently trading 3.52% higher at $9.70 on volume of 18.30 million, which is nearly twice the daily average volume of 9.64 million.

Despite the sharp rise today, MGM is headed for a lower finish for the week. The stock is down more than 3% for the week, mainly due to the losses posted earlier in the week. MGM in fact has been on a downward trajectory for a while now. However, the sharp rise today on above average volume suggests that the bearish trend is now over. This is confirmed by the MACD chart. The MACD histogram is showing decreasing downward momentum, a sign that the bearish trend is coming to an end.

Find out if this momentum could continue in the very short term by reading the free trend analysis report here: MGM, Trend analysis report

Another major loser on Dynavax Technologies Corporation (NASDAQ: DVAX), clinical-stage biopharmaceutical company engaged in the discovery and development of products to prevent and treat infectious and inflammatory diseases. DVAX is sinking in trading today after a FDA panel questioned the safety of its most advanced drug candidate, Heplisav.

DVAX is currently down 47.08% to $2.45 on volume of 24.02 million, which is nearly 8 times the daily average volume of 36.5 million. The stock hit a new 52-week low of $2.22 in trading today. DVAX has given up all of its gains for the year as a result of the sell-off today. The stock is now down nearly 26% for the year.

Find how bad the consequences of these news could affect DVAX by reading the free trend analysis report here: DVAX, Trend analysis report

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