Sanofi-Aventis Crosses Below its 10-day MA (SNY)

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Dec 28, 2012 (Moving average crossovers via COMTEX) -- Today, shares of Sanofi-Aventis (NYSE:SNY) have fallen below their 10-day MA of $47.23 on a volume of 231K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.There is potential upside of 16.3% for shares of Sanofi-Aventis based on a current price of $46.88 and an average consensus analyst price target of $54.53. Sanofi-Aventis shares have support at the 50-day moving average (MA) of $44.96 and additional support at the 200-day MA of $40.32.

In the past 52 weeks, Sanofi-Aventis share prices have been bracketed by a low of $33.03 and a high of $47.97 and are now at $46.88, 42% above that low price. The 200-day and 50-day moving averages have moved 0.34% higher and 0.59% higher over the past week, respectively.

Sanofi-Aventis is a global pharmaceutical company that researches, develops and manufactures prescription pharmaceuticals and vaccines. The Company develops cardiovascular, thrombosis, metabolic disorder, central nervous system, internal medicine and oncology drugs, and vaccines.

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Copyright, Comtex News Network, Inc. 2012

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